MindBio Expands Portfolio with Life AI Acquisition, Eyes Alcohol Detection Tech
Vancouver, British Columbia -- March 26, 2025 -- NewsGenie -- MindBio Therapeutics Corp. (CSE: MBIO; Frankfurt: WF6) has finalized its acquisition of Life AI Corp. Pty. Ltd., according to a share purchase agreement dated March 24, 2025. The acquisition, completed on March 25, brings Life AI's technology, including the Booze AI App—a smartphone application estimating blood alcohol concentration through speech analysis—into MindBio's portfolio. More details on the app can be found at www.booze-ai.com.
MindBio anticipates that speech analysis technology will significantly enhance medication adherence monitoring and address potential abuse through voice analysis. The company aims to leverage Life AI's expertise in alcohol consumption and intoxication identification to expedite product development and explore commercial opportunities in alcohol and drug testing across consumer and enterprise sectors.
Justin Hanka, CEO of MindBio, stated that this acquisition enables the company to commercialize its technological IP across various health verticals.
Under the terms of the agreement, MindBio issued 35,000,000 common shares to Life AI's shareholders. These shares are subject to a statutory hold period expiring on July 26, 2025.
Justin Hanka, also a director and shareholder of Life AI, makes this a related party transaction under MI 61-101. MindBio is relying on exemptions from formal valuation and minority shareholder approval requirements.
About MindBio Therapeutics
MindBio focuses on novel mental health treatments and is conducting clinical trials involving take-home Microdosing (MB22001). It is also involved in psychedelic medicine development and digital therapeutics, with ongoing Phase 2B trials for cancer patients and those with Major Depressive Disorder.