CBDW 8-K
1606 Corp. (CBDW)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported):
(Exact name of registrant as specified in its charter) |
|
| |||
(State or Other Jurisdiction |
| (Commission File |
| (I.R.S. Employer |
of Incorporation) |
| Number) |
| Identification Number) |
(Address of principal executive offices, including zip code) |
( |
(Registrant’s telephone number, including area code) |
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) | |
|
|
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) | |
|
|
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) | |
|
|
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Securities registered pursuant to Section 12(b) of the Act:
Title of each class | Trading Symbol(s) | Name of each exchange on which registered |
N/A | N/A | N/A |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.
Item 7.01. | Regulation FD Disclosure. |
On September 17, 2024, 1606 Corp., a Nevada corporation (the “Company”), filed a press release which announced an LOI entered into with Adnexus Biotechnologies Inc..
The furnishing of the press release is not an admission as to the materiality of any information therein. The information contained in the press release is summary information that is intended to be considered in the context of more complete information included in the Company’s filings with the U.S. Securities and Exchange Commission (the “SEC”) and other public announcements that the Company has made and may make from time to time by press release or otherwise. The Company undertakes no duty or obligation to update or revise the information contained in this report, although it may do so from time to time as its management believes is appropriate. Any such updating may be made through the filing of other reports or documents with the SEC, through press releases or through other public disclosures.
The information in this Item 7.01 of this Current Report on Form 8-K and the press release shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section or Sections 11 and 12(a)(2) of the Securities Act of 1933, as amended. The information contained in this Item 7.01 and in the press release shall not be incorporated by reference into any filing with the SEC made by the Company, whether made before or after the date hereof, regardless of any general incorporation language in such filing.
2 |
Item 9.01. | Financial Statements and Exhibits. |
(d) Exhibits.
Exhibit No. |
| Description |
| ||
104 |
| Cover Page Interactive Data File (embedded within the Inline XBRL document) |
3 |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| 1606 Corp. |
| |
|
|
| |
Date: September 17, 2024 | By: | /s/ Austen Lambrecht |
|
|
| Austen Lambrecht, Chief Executive Officer |
|
4 |
EXHIBIT 99.1
Adnexus Biotechnologies Partners with 1606 Corp. for Strategic Investment to Revolutionize AI-Driven Drug Discovery
Seattle, WA / ACCESSWIRE / September 17, 2024 / 1606 Corp. (OTC Pink: CBDW) (the “Company” or “1606”) is pleased to announce it has signed a Letter of Intent to acquire a strategic stake in Adnexus Biotechnologies Inc., a pioneering company in Artificial Intelligence-driven innovations for early drug discovery and infectious disease research.
This potential strategic investment exemplifies 1606 Corp.'s commitment to advancing its technological capabilities and expanding its reach in the AI sector. Integrating Adnexus's cutting-edge AI research and development into its portfolio underscores 1606 Corp.'s aim to impact the AI sector, healthcare, and biotechnology significantly. This collaboration has the potential to push the boundaries of what is achievable in these fields.
Adnexus Biotechnologies Inc. operates an advanced AI-driven drug discovery and development platform called SUTRA. This platform, at the forefront of technological innovation, identifies specific sites and biomarkers for infectious and neurological diseases. The AI platform has successfully produced Fully Human, Broadly Neutralizing, durable monoclonal antibodies unaffected by virus mutations. The AI platform utilizes a repository containing data on 19 viruses, a curated library of 8 million molecules, and human microbiome samples. The goal is to create robust models and make significant advancements in producing groundbreaking drugs that demonstrate effectiveness and disrupt the landscape of treatments for infectious and neurological diseases.
Adnexus Biotechnologies' CEO, Gaurav Chandra, emphasizing Adnexus’ unwavering dedication to advancing the frontiers of pharmaceutical development, stated, "Adnexus Biotechnologies Inc. is committed to pushing the boundaries of pharmaceutical development through its state-of-the-art AI platform, monoclonal antibodies, and HIV capsid inhibitor. The pre-clinical results of the HIV capsid inhibitor in combating HIV, and the Fully Human Monoclonal Antibody (Clone3), have become priced assets of Adnexus Biotechnologies' therapeutic portfolio. We are confident we will advance these molecules with the dedicated efforts of our team of accomplished scientists and executives with advanced chemistry, pharmacology, and drug development expertise." This dedication instills confidence in our ability to deliver impactful solutions.
Dr. Gaurav Chandra, expressing his enthusiasm about the strategic partnership with 1606 Corp. and emphasizing its significance, stated, "We are thrilled to embark on this strategic partnership with 1606 Corp. Their commitment to leveraging AI technology aligns perfectly with our mission to drive breakthroughs in drug discovery and infectious disease treatment. This collaboration represents a significant opportunity to enhance our technological capabilities and expand the impact of our innovative solutions."
Austen Lambrecht, CEO of 1606 Corp., commented, "We are pleased to enter into this agreement with Adnexus. Their pioneering work in AI-driven drug discovery and infectious disease treatment closely aligns with our commitment to leveraging advanced AI technologies to develop high-impact solutions. This collaboration significantly advances our efforts to diversify and strengthen our technological capabilities."
In order to close, the transaction must follow standard due diligence and fulfill certain conditions detailed in the LOI. Both companies are optimistic that this strategic partnership will deliver substantial shareholder value, drive technological advancements, and foster innovation in their respective fields. We will keep our stakeholders informed about the progress and any significant developments throughout the process.
|
|
About Adnexus Biotechnologies Inc.
Adnexus is a leading innovator in biotechnology, specializing in AI-driven solutions for early drug discovery, infectious disease and neurodegenerative disease research. Its proprietary methods focus on developing therapeutic solutions by leveraging human immune-B cells, offering a cutting-edge approach to creating highly effective treatments. For more information, please visit https://www.adnexusbiotech.com.
About 1606 Corp.
1606 Corp. stands at the forefront of technological innovation, particularly in AI Chatbots. Our mission is to revolutionize customer service, addressing the most significant challenges faced by consumers in the digital marketplace. We are dedicated to transforming the IR industry through cutting-edge AI centric solutions, ensuring a seamless and efficient customer experience.
As a visionary enterprise, 1606 Corp. equips businesses with the advanced tools they need to excel in the competitive digital landscape. Our commitment to innovation and quality positions us as a leader in the field, driving the industry forward and setting new benchmarks for success and customer satisfaction.
For more information, please visit cbdw.ai.
Industry Information
The global AI market, valued at $428 billion in 2022, is anticipated to reach $2.25 trillion by 2030, with a compound annual growth rate (CAGR) ranging from 33.2% to 38.1%. The sector is expected to employ 97 million individuals by 2025, reflecting its expansive and significant impact. This potential growth presents a compelling opportunity for investors and industry professionals interested in the AI sector.
Forward-Looking Statements
This press release includes forward-looking statements under federal securities laws, including projections and expectations regarding business developments, operations, and market conditions. These statements are identified by terms such as "should," "may," "intends," "anticipates," and others. While based on reasonable assumptions, results may differ due to various risks and uncertainties. Please review cautionary statements and disclosures in our filings with the SEC. Adnexus does not undertake any obligation to update forward-looking statements except as required by law.
For inquiries, please contact our CEO, Austen Lambrecht, at [email protected].
SOURCE: 1606 Corp.
| 2 |