JUPITER, FL / November, 2021 / Jupiter Wellness, Inc. (NASDAQ:JUPW), today announced that it has submitted filed a registration statement with the Securities and Exchange Commission to sponsor Jupiter Wellness Acquisition Corp. (“JWAC”), a special-purpose acquisition company, or SPAC, dedicated to investing in artificial intelligence (AI) based therapeutics and diagnostics with an initial funding target of $100 million. JWAC has finalized the recruitment and on-boarding of its board of directors and aims to be listed on the Nasdaq Capital Markets.Jupiter’s sponsorship of JWAC is part of the Company's commitment to improving health and wellbeing. Medical applications of AI hold significant promise to improve clinical care and offer massive new commercial opportunities as the healthcare AI market is projected to reach $36 B by 2025. Implementing AI produces clinical and economic benefits including better diagnosis and more consistent treatment of disease while lowering the overall cost of care.
"We’ve assembled a board that combines extensive experience in healthcare and finance. Our medical team has a successful history in drug development and AI along with deep relationships with medical centers and regulatory bodies in the U.S. and Europe. The finance team brings a wealth of transactional experience including M&A, equity and debt financing, and IPOs. We’re actively targeting companies in the healthcare AI space with enterprise values between $300 million and $1 billion,” stated Jupiter CEO and JWAC Board Member, Brian John.
Market forces have created the ideal environment for AI technology adoption as the FDA’s new clearance process allows for faster approval of medical algorithms resulting in a rapid two-to-three year development and commercialization cycle. AI healthcare technologies span a broad range of applications from robot-assisted surgery, to dosage detection, identification of biomarkers that develop at the onset of disease, automated image diagnosis, to virtual nursing assistants.
Developer of CBD Treatments for the Growing Global Skin Care Market.
Multiple Clinical and Commercial Milestones Recently Achieved on the Company’s Proprietary Product Lines.
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Submitted Pre-IND Meeting Request with US FDA for Proposed Clinical Program of JW-100 as a Treatment for Mild to Moderate Eczema.
Jupiter Wellness, Inc. (NASDAQ: JUPW) is a leading developer of cannabidiol (CBD) based medical therapeutics and wellness products. The JUPW clinical pipeline of prescription CBD-enhanced skin care therapeutics address indications including eczema, burns, herpes cold sores, and skin cancer. JUPW generates revenues from a growing line of proprietary over-the-counter skincare products including its flagship CaniSun™ sunscreen and other wellness brands sold through its robust distribution platform.
JUPW is NASDAQ listed and has an attractive share structure with only
22,927,465 shares currently outstanding.
For additional information on Jupiter Wellness, Inc. (JUPW) visit [URL]www.jupiterwellnessinc.com[/URL]