Snippet from the press release —
Stratus Media Group, Inc. (OTCQB:SMDI) announced today that it was planning to expand its entrance into the biotechnology industry with the execution of a letter of intent between the Company and Histogen, Inc., a regenerative medicine company developing innovative therapies for conditions including hair loss and cancer.
The non-binding letter of intent outlines the primary terms of a merger of San Diego-based Histogen into Stratus, to be renamed Restorgenex Corporation. The letter of intent has been approved by the board of directors of both companies, and the parties are engaged in completing a formal merger agreement.
We’ve written about Histogen many times in the past. It appears that Stratus Media is getting into biopharmaceuticals lately by also announcing a merger with Canterbury Laboratories, LLC, and Hygeia Therapeutics, Inc last month.