iSpecimen Acquires Two AI Products From Foldlab AI For $4.5M
Benzinga Newsdesk 49 minutes ago
M&A
iSpecimen Inc. (NASDAQ:ISPC) ("iSpecimen" or the "Company"), an online global marketplace connecting scientists who need biospecimens for medical research with a network of healthcare specimen providers,
iSpecimen Inc. (NASDAQ:ISPC) ("iSpecimen" or the "Company"), an online global marketplace connecting scientists who need biospecimens for medical research with a network of healthcare specimen providers, today announced that it completed, on November 2, 2026, the acquisition of two artificial intelligence products from Foldlab AI Ltd. ("Foldlab"), a British Columbia company: an AI agent that identifies disease-associated proteins and an AI model that predicts and monitors disease trends.
Transaction terms
The aggregate purchase price is $4.5 million, consisting of:
- $750,000 in cash paid at closing;
- Up to $1.25 million in two milestone payments of $625,000 each, payable upon delivery and acceptance of the applicable milestone products, subject to the delivery, testing and acceptance procedures set forth in the Asset Purchase Agreement; and
- $2.5 million in shares of the Company's common stock (2,907,977 shares), with the number of shares determined using the volume-weighted average price of the common stock for the 10 consecutive trading days ending on the trading day immediately preceding the closing date.