FOXO Technologies Licenses Epigenetics IP, Secures Royalties and 40% Equity Option
Summary
FOXO Technologies has formed a strategic partnership with LongevityFP Technologies, LLC, licensing its epigenetics technology. This agreement provides FOXO with a 3% royalty on LFP's net revenues, capped at $1.3 million, and an option for a 40% equity interest in FOXO Labs if LFP acquires a majority stake. This follows a series of negative events for FOXO, including a "going concern" warning in its 10-K and massive share dilution. The partnership aims to commercialize previously unmonetized intellectual property and allows FOXO to focus on its core healthcare services, offering a potential pathway for future value creation.
At the time of this announcement, FOXO was trading at $0.00 on OTC in the Life Sciences sector, with a market capitalization of approximately $306.3K. The 52-week trading range was $0.00 to $2.01. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: GlobeNewswire.