Mangoceuticals Acquires Global Patent Portfolio to Revolutionize Preventive Care - Seite 2

According to a recent market study performed by Fortune Business Insights, the global toothpaste market is a significant growth opportunity for MangoRx’s newly acquired technology. With the market size standing at $18.11 billion in 2022 and projected to reach $25.71 billion by 2030, a compound annual growth rate (CAGR) of 4.7%, the demand for high-quality oral health products is on the rise. As per the World Health Organization's global oral health status report in 2022, nearly 3.5 billion people (3 out of 4) suffer from oral diseases globally, underscoring the urgent need for innovative preventive measures.

“Intramont is pleased to enter into a Patent Purchase Agreement with MangoRx”, commented Jim Intrater, CEO and Founder of Intramont Technologies, Inc., who continued, “MangoRx’s expertise in sales and marketing are of great potential help to our desires to bring forth new consumer health products to the general public. MangoRx has demonstrated its unique ability to develop, commercialize and market its products and we see this patented product fitting excellently among MangoRx’s product portfolio as well as through its other sales and distribution channels, both domestically and abroad.”

Pursuant to the PPA, the Company agreed to pay Intramont a total of $20,000,000 for the Patent Portfolio, through the issuance of 980,000 shares of its newly created 6% Series C Convertible Preferred shares (with a stated value and liquidation preference of $20.00 per share and convertible into shares of the Company’s common stock at $10.00 per share), which were issued at closing, and through the payment to Intramont of $400,000 in cash over the course of 7 months.

For more information on the transaction and the PPA, please see the Company’s Current Report on Form 8-K filed with the Securities and Exchange Commission earlier today.

About MangoRx

MangoRx is focused on developing a variety of men's health and wellness products and services via a secure telemedicine platform. To date, the Company has identified men's wellness telemedicine services and products as a growing sector and especially related to the area of erectile dysfunction (ED), hair growth and hormone replacement therapies. Interested consumers can use MangoRx’s telemedicine platform for a smooth experience. Prescription requests will be reviewed by a physician and, if approved, fulfilled and discreetly shipped through MangoRx’s partner compounding pharmacy and right to the patient’s doorstep. To learn more about MangoRx’s mission and other products, please visit www.MangoRx.com or on social media @Mango.Rx.