Thorne HealthTech, Inc. (THRN) Acquires Precon Health for $5M

Thorne HealthTech, Inc. (NASDAQ: THRN), a leader in developing innovative solutions for a personalized approach to health and wellness, today announced it has acquired all of the outstanding stock of PreCon Health, Inc. ("PreCon"), a company focused on scientific discovery, innovation, and advancing safe and effective products that support healthy brain function. The acquisition was completed on January 31, 2023, for an aggregate purchase price of $5.0 million.

Thorne and PreCon first partnered together in 2021 to bring the first multi-ingredient dietary supplement formulated to support pre- and post-impact brain health, SynaQuell ™ and SynaQuell+ ™, to market.

"There is a significant need to continue developing solutions that address impact-related brain health," said Paul Jacobson, CEO of Thorne HealthTech. "Our initial partnership with PreCon laid the foundation for the acquisition which now strengthens our brain health portfolio providing us with unparalleled access to brain health products, related IP for continued development, as well as PreCon's top tier Medical and Scientific Advisory Board composed of expert physicians, researchers, retired military personnel, and former professional athletes – all committed to the brain health of athletes, military operators, and the general public. We look forward to continuing to work with PreCon's board and advisors on future research and product opportunities."

"The goals were two-fold; first, develop a safe multi-ingredient formula backed by scientific rationale, a world-class medical, scientific and development advisory board, a best-in-class manufacturing company with a track record and commitment to scientific integrity and ingredient quality, and validation through rigorous research," said Dr. David Dodick, Emeritus Professor at Mayo Clinic. "Second, and most important, be able to offer athletes who are at risk of head impacts, a safe and effective product. I couldn't be prouder of the milestones achieved thus far and am confident in Thorne's ability to maximize the potential of these products."

For details on the recently completed and the ongoing clinical trials related to the effect of SynaQuell on brain function, being conducted at the Mayo Clinic, visit clinicaltrials.gov #s NCT05041192 and NCT05498818.

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