Avant Technologies and Ainnova Tech Enter Acquisition Talks

Avant Technologies Inc. and Ainnova Tech, Inc., announced they have entered acquisition negotiations. This move aims to strengthen their position in the AI-driven healthcare sector. Six months ago, they formed Ai-nova Acquisition Corp. to commercialize Ainnova's technology. Both companies see the acquisition as an opportunity to simplify technology advancement and enhance shareholder value.

As they prepare for a pre-submission meeting with the FDA in July for the Vision AI platform, Avant and Ainnova aim to solidify their relationship. The platform focuses on early diabetic retinopathy detection.

The acquisition is expected to unlock growth opportunities, particularly in the U.S. market, by facilitating collaboration with the FDA. Ainnova's CEO, Vinicio Vargas, highlights the potential commercial benefits and the importance of FDA engagement.