The following excerpt is from the company's SEC filing.
AI
in medicine is projected to grow 18X from 2018 through 2025 to $35 billion
JUPITER,
FL / November 3, 2021
Jupiter Wellness
, Inc. (NASDAQ:
), today announced that it has 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
th
e 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.
About
Jupiter Wellness
Jupiter
Wellness, Inc. (NASDAQ:
) is a leading developer of skincare therapeutics and treatments. The Company’s product pipeline
of enhanced skincare therapeutics focuses on the endocannabinoid system to address indications including psoriasis, eczema, burns, herpes
cold sores, and skin cancer. Jupiter generates revenue from a growing line of proprietary over-the-counter skincare products including
its CaniSun™ sunscreen and other wellness brands sold through
www.canisun.com
www.cbdcaring.com
For
additional information, please visit
www.jupiterwellness.com
. The Company’s public filings can be found at
www.Sec.gov
Safe
Harbor Statement
To
the extent any statements contained in this presentation of Jupiter Wellness, Inc. (the “Company”) contains “forward-looking
statements” as defined in the Private Securities Litigation Reform Act of 1995 and the information that are based upon beliefs
of, and information currently available to, the company’s management as well as estimates and assumptions made by the company’s
management. These statements can be identified by the fact that they do not relate strictly to historic or current facts. When used in
this presentation the words “estimate,” “expect,” intend,” believe,” plan,” “anticipate,”
“projected” and other words or the negative of these terms and similar expressions as they relate to the company or the company’s
management identify forward-looking statements. Such statements reflect the current view of the company with respect to future events
and are subject to risks, uncertainties, assumptions and other factors relating to the company’s industry, its operations and results
of operations and any businesses that may be acquired by the company. Should one or more of these risks or uncertainties materialize,
or the underlying assumptions prove incorrect, actual results may differ significantly from those anticipated, believed, estimated, expected,
intended, or planned. Although the company believes that the expectations reflected in the forward-looking statements are reasonable,
the company cannot guarantee future results, performance, or achievements. Except as required by applicable law, including the security
laws of the United States, the company does not intend to update any of the forward-looking statements to conform these statements to
actual results.
Investor
& Public Relations Contact Info
Phone: 561-462-2700
Email:
info@JupiterWellness.com
The above information was disclosed in a filing to the SEC. To see the filing, click here.
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