Renovaro Biosciences (NASDAQ: RENB) has announced an update regarding its Definitive Agreement with Predictive Oncology (NASDAQ: POAI). The merger agreement, initially signed on January 1, 2025, and extended on February 28, 2025, has faced a setback as POI sent an email on April 3, 2025, terminating the merger transaction.
Renovaro maintains that POI must comply with the binding obligations and enter into an exclusive License Agreement as stipulated in the Binding Agreements. The company states that POI is in breach of these agreements and has caused substantial damage to Renovaro. If POI fails to enter into the exclusive License Agreement by April 10, 2025, Renovaro will pursue legal remedies to recover damages and seek additional remedies for the breaches.
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