Avant Technologies enters joint venture with Austrianova to form Klothonova for Klotho-based therapies

AVAI BIO, INC.

AVAI and Austrianova form Klothonova Inc., a 50/50 joint venture to develop treatments for Alzheimer's, heart disease, cancer, kidney disease, and longevity.
AVAI will fund Klothonova's operations for 18 months up to $1.5M in exchange for 1.5M shares (50% ownership).
Austrianova contributes its proprietary cell encapsulation technology and IP as an exclusive license to Klothonova.
Potential additional $8.5M loan from AVAI for clinical development; if AVAI declines, Austrianova can pursue development outside Klothonova.
Kenn Kerr named CEO; Walter H. Günzburg, Ph.D., appointed Chairman of the Board.

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