Sunday February 18th 2018

Endonovo Therapeutics finally buys Rio Grande Neuroscience assets for nearly $5m

Nearly a year-and-a-half after their planned $22 million merger fell through,Endonovo Therapeutics (OTC:ENDV) said last week that it acquired intellectual property and assets from Rio Grande Neurosciences for $4.5 million. Rio Grande in August 2016 backed out of deal with Endonovo after seeking to renegotiate its terms when Steven Gluckstern, chairman & CEO of Santa Fe-based Rio Grande, dissolved a binding letter of intent. Los Angeles-based Endonovo, which had raised $10 million to fund the $21.5 million buyout, was to have put up $1.5 million in cash, another $15 million in ENDV shares and $5 million worth of warrants for Rio Grande. Rio Grande has an FDA-cleared and CE-mMarked device for treating pain and edema using pulsed electromagnetic fields and a multi-coil repetiti…

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Endonovo Therapeutics finally buys Rio Grande Neuroscience assets for nearly $5m

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