Cascade Technologies has entered into a non-binding letter of intent to acquire all of the assets of AcuNetx, a Nevada corporation, in exchange for common stock of Cascade.
Cascade Technologies, through its wholly owned subsidiary Spectral Molecular Imaging, is a development-stage, medical imaging device company, applying its proprietary hyperspectral-optical imaging technology – originally developed for satellite reconnaissance, to advance the early and accurate diagnoses of cancer and precancerous conditions.
The completion of the proposed transaction is subject to numerous conditions including, without limitation, further due diligence, receiving shareholder and regulatory approvals, and negotiating and entering into a definitive assets purchase agreement.
Daniel Farkas of Cascade Technologies said that AcuNetx designs, manufactures and markets products that utilise non-invasive optical imaging of the eye for assessing important body functionality ranging from balance testing to fitness for duty to law enforcement and these products may complement the proprietary products they have under current development.
AcuNetx and its subsidiaries OrthoNetx and VisioNetx combine diagnostic, analytical and therapeutic devices with software to permit health providers to diagnose and treat balance disorders and various bone deficiencies.