VANCOUVER, British Columbia, Sept. 30, 2025 (GLOBE NEWSWIRE) -- via IBN -- Fifty 1 Labs Inc. ( FITY ) , a leader in AI-powered healthcare and biotechnology solutions, is excited to announce the signing of a Letter of Intent (LOI) to acquire BioSpark AI Technologies Inc., a Vancouver-based innovator specializing in patented artificial intelligence systems for clinical data extraction, structuring, and real-time analysis. This strategic move builds on a successful history of collaboration between the two companies, reinforcing Fifty 1 Labs' ( FITY ) commitment to advancing therapeutic development and functional medicine through cutting-edge AI technology.

The LOI outlines Fifty 1 Labs' ( FITY ) intent to acquire 100% of BioSpark's outstanding equity interests, including all assets, its proprietary large language model (LLM) ensemble technology, and key intellectual property, such as United States Patent Application Publication No. US 20250029734 A1. The proposed transaction includes a contingent payment of twenty-five million common shares, payable upon BioSpark achieving a revenue-based valuation milestone of US$25,000,000 (determined by multiplying annualized recurring revenue by 10x and certified by an independent third-party valuation firm mutually agreed upon by both parties), subject to the terms and conditions of a definitive Stock Purchase Agreement. This acquisition aligns with Fifty 1 Labs' ( FITY ) focus on delivering transformative AI solutions that drive value for shareholders and enhance patient outcomes.

Fifty 1 Labs ( FITY ) and BioSpark have a proven track record of collaboration. As previously announced on OTC Markets, their strategic partnership through Fifty 1 Labs' ( FITY ) subsidiary, Fifty1 AI Labs, has driven breakthroughs in drug repurposing by leveraging BioSpark's advanced AI tools to identify new therapeutic applications for existing compounds. Most recently, this collaboration unlocked over 2,000 real-world treatment pathways, accelerating innovation in functional medicine by processing clinical narratives with unmatched efficiency. These achievements underscore the transformative potential of BioSpark's technology and its alignment with Fifty 1 Labs' ( FITY ) vision for AI-driven healthcare innovation.

"This Letter of Intent represents a pivotal step toward redefining healthcare through artificial intelligence," said Paul Arora, Chief Executive Officer of Fifty 1 Labs Inc. ( FITY ) "Our successful collaborations with BioSpark have demonstrated the power of their AI systems in advancing drug discovery and clinical insights. By pursuing this acquisition, we aim to fully integrate BioSpark's capabilities, positioning Fifty 1 Labs ( FITY ) as a global leader in the rapidly growing AI-healthcare market. This move reflects our dedication to delivering innovative solutions that improve patient outcomes and create significant shareholder value."

The LOI includes an exclusivity period to facilitate negotiations toward a definitive Stock Purchase Agreement, with closing subject to completion of due diligence, negotiation and execution of the Definitive Agreement, board approvals, regulatory approvals or filings under applicable securities laws, certification of the revenue-based milestone, no material adverse change in the business of either party, and other customary conditions. Fifty 1 Labs ( FITY ) intends to retain key BioSpark employees post-closing on substantially similar terms, at its discretion, to ensure continuity and leverage their expertise for future growth. This acquisition positions Fifty 1 Labs ( FITY ) to capitalize on the increasing demand for AI-driven clinical data solutions, targeting opportunities in the multi-billion-dollar markets of drug repurposing, personalized medicine, and healthcare optimization.

About BioSpark AI Technologies Inc.

Founded in Vancouver, BioSpark AI Technologies Inc. is engaged in developing, marketing, and commercializing patented artificial intelligence systems for clinical data extraction, structuring, and analysis. Its proprietary large language model (LLM) ensemble technology enables real-time mining and processing of clinical narratives for therapeutic development, outcomes research, and related applications. For more information, visit https://www.biospark.ai.

About Fifty1 AI Labs

Fifty1 AI Labs, a subsidiary of Fifty 1 Labs, Inc. ( FITY ) , is redefining drug discovery by using AI to unlock new potential in proven medicines. By repurposing safe, off-patent compounds, we accelerate smarter therapies that improve lives, reduce costs, and create lasting value for patients, partners, and forward-thinking investors.

Contact:

Investor Relations

Fifty 1 Labs, Inc. ( FITY )

[email protected] | (877) 505-5006

www.fifty1AIlabs.com

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical facts contained in this press release, including statements regarding the potential impact, development, and timeline of AI-powered drug repurposing, the proposed acquisition of BioSpark AI Technologies Inc., and the ability of Fifty 1 Labs' ( FITY ) platform to transform clinical data analytics and global health outcomes, are forward-looking statements. These statements involve known and unknown risks, uncertainties, and other important factors that may cause the company's actual results, performance, or achievements to be materially different from any future results, performance, or achievements expressed or implied by the forward-looking statements. These risks and uncertainties include, but are not limited to, the success and timing of the proposed acquisition, achievement of the revenue-based valuation milestone, regulatory approvals, and the company's ability to successfully integrate and commercialize BioSpark's technologies. For a further description of the risks and uncertainties, please refer to Fifty 1 Labs, Inc.'s ( FITY ) filings with the OTC Markets. The company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by law.

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Source: Fifty 1 Labs, Inc. ( FITY )