SVRE 6-K
SaverOne 2014 Ltd. (SVRE)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 6-K
Report of Foreign Private Issuer
Pursuant to Rule 13a-16 or 15d-16
under the Securities Exchange Act of 1934
For the month of August 2024 (Report No. 3)
Commission file number: 001-41387
SaverOne 2014 Ltd.
(Translation of registrant’s name into English)
Em Hamoshavot Rd. 94
Petah Tikvah, Israel
(Address of principal executive offices)
Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.
Form 20-F ☒ Form 40-F ☐
The press release attached to this Form 6-K is hereby incorporated by reference into the registrant’s Registration Statements on Form S-8 (File No. 333-274455) and Form F-3 (File No. 333-274458, 333-263338 and 333-269260), to be a part thereof from the date on which this report is submitted, to the extent not superseded by documents or reports subsequently filed or furnished.
CONTENTS
Attached hereto and incorporated herein is the Registrant’s press release issued on August 27, 2024, titled “SaverOne Announces Strategic Acquisition of Micronet’s Generattion-3 Camera IP.”
EXHIBIT INDEX
| Exhibit No. | Description |
|---|---|
| 99.1 | Press released titled: SaverOne Announces Strategic Acquisition of Micronet’s Generattion-3 Camera IP.” |
1
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, thereunto duly authorized.
| Date: August 27, 2024 | SAVERONE 2014 LTD. | |
|---|---|---|
| By: | /s/ Ori Gilboa | |
| Name: | Ori Gilboa | |
| Title: | Chief Executive Officer |
2
Exhibit 99.1
SaverOneAnnounces Strategic Acquisition of Micronet’s Generation-3 Camera IP
ExpandsSaverOne’s product line with potential for future revenue growth
Petah Tikvah, Israel, Aug. 27, 2024 (GLOBENEWSWIRE) -- SaverOne 2014 Ltd. (Nasdaq: SVRE, TASE: SVRE), a technology company specializing in transportation safety solutions, today announced a strategic asset purchase agreement for Micronet Ltd.’s (TASE: MCRNT) Generation-3 camera products and intellectual property (IP). Micronet is a developer of advanced telematics systems, cameras, and Driver Monitoring Systems (DMS). This acquisition aligns with SaverOne’s strategy to expand its portfolio of solutions and enhance its product offerings.
Under the terms of the agreement, SaverOne will acquire the intellectual property (IP) and inventory related to Micronet’s Generation 3 camera at no upfront cost. The acquisition is structured as an earn-out agreement, with future royalty payments to Micronet contingent upon the sale of products incorporating the acquired camera technology.
“This acquisition of products and related IP is a new component of our ongoing strategy to broaden our product offerings and solutions for customers,” commented Ori Gilboa,CEO of SaverOne. “We believe that we are acquiring a robust IP suite and next-generation cameras that complement our existing solution and supports our intention to create a unique combined product with both camera and cellular distraction prevention solution. This transaction represents a significant opportunity for future revenue growth, as well as potential for new customer acquisition, particularly in the United States.”
About SaverOne’s Systems
SaverOne’s system is installed in vehicles to provide a solution to the problem of driver distraction, as a result of drivers using distracting applications on the mobile phone while driving, in a way that endangers their safety, the safety of their passengers and others on the road. This phenomenon is considered one of the main causes of road accidents in the world. According to the US National Highway Traffic Safety Administration, the annual cost of road accidents just in the United States, stands at about $870 billion each year, excluding the costs of serious injury or death, with a quarter of those accidents estimated to be related to the use of the mobile phones while driving. SaverOne’s technology specifically recognizes the driver area in the vehicle and prevents the driver from accessing distracting applications such as messaging, while allowing others (e.g. navigation, calls), without user intervention or consent, creating a safer driving environment.
SaverOne’s primary target markets include commercial and private vehicle fleets, including public transportation and buses, that are interested in reducing potential damages and significant cost, vehicle manufacturers that are interested in integrating safety solutions to their vehicles, and insurance and leasing companies. SaverOne initially addresses car fleets with focus on the Israeli, European and US markets, as well as other markets around the world. SaverOne believes that ultimately increased focus on monitoring and prevention of cellular distraction systems in vehicles, in particular driven by upcoming expected EU regulation, will likely have a dramatic positive impact on the demand for its systems in the future.
The Company’s strategy is to provide its technology for installation to customers in the aftermarket as well as address OEM vehicle manufacturers, to install the Company’s protection technologies during the vehicle manufacturing process.
SaverOne has developed a Vulnerable Road User (VRU) solution with the potential to significantly enhance the performance of Advanced Driver Assistance System (ADAS) sensors through a superior ability to deal with NLoS (non-line of sight) situations as well as adverse weather conditions and low-visibility. SaverOne’s technology identifies the exact location and direction of movement of the VRU via their RF footprint from their cellphone signal. This safety solution enables the avoidance of a collision by early detection VRUs such as pedestrians or cyclists in the vicinity of the vehicle.
About SaverOne
SaverOne is a technology company engaged in the design, development and commercialization of OEM and aftermarket solutions and technologies, to lower the risk of, and prevent, vehicle accidents.
SaverOne’s initial line of products is a suite of solutions that saves lives by preventing car accidents resulting from distraction from the use of mobile phones while driving. SaverOne is also developing a sensor system for early location and direction detection under all visibility conditions of vulnerable road users (VRU) through their cellphone footprint.
Learn more at https://saver.one/
Forward Looking Statements
This press release contains “forward-lookingstatements” within the meaning of the Private Securities Litigation Reform Act and other securities laws that are subject to substantialrisks and uncertainties. All statements, other than statements of historical fact, contained in this press release are forward-lookingstatements. Forward-looking statements contained in this press release include, but are not limited to, statements regarding SaverOne’sstrategic and business plans, technology, relationships, objectives and expectations for its business, growth, the impact of trends onand interest in its business, intellectual property or product and its future results, operations and financial performance and conditionand may be identified by the use of words such as “anticipate,” “believe,” “contemplate,” “could,”“estimate,” “expect,” “intend,” “seek,” “may,” “might,” “plan,”“potential,” “predict,” “project,” “target,” “aim,” “should,” “will”“would,” or the negative of these words or other similar expressions, although not all forward-looking statements contain thesewords. Forward-looking statements are based on SaverOne’s current expectations and are subject to inherent uncertainties, risks and assumptionsthat are difficult to predict. Further, certain forward-looking statements are based on assumptions as to future events that may not proveto be accurate. Many factors could cause SaverOne’s actual activities or results to differ materially from the activities and resultsanticipated in such forward-looking statements. Factors that could cause our actual results to differ materially from those expressedor implied in such forward-looking statements include, but are not limited to: the ability of SaverOne’s technology to substantiallyimprove the safety of drivers; market acceptance of SaverOne’s protection solutions; SaverOne’s planned level of revenuesand capital expenditures; SaverOne’s ability to market and sell its products; SaverOne’s successful incorporation of the MicronetGeneration-3 camera products into its product offerings; SaverOne’s plans to continue to invest in research and developmentto develop technology for both existing and new products; SaverOne’s intention to advance its technologies and commercializationefforts; SaverOne’s intention to use local distributors in each country or region that it will conduct business to distribute ourproducts or technology; SaverOne’s plan to seek patent, trademark and other intellectual property rights for our products and technologiesin the United States and internationally, as well as its ability to maintain and protect the validity of its currently held intellectualproperty rights; SaverOne’s expectations regarding future changes in its cost of revenues and our operating expenses; interpretationsof current laws and the passage of future laws; acceptance of SaverOne’s business model by investors; the ability to correctly identifyand enter new markets; the impact of competition and new technologies; general market, political and economic conditions in the countriesin which SaverOne operates; projected capital expenditures and liquidity; SaverOne’s intention to retain key employees, and ourbelief that we maintain good relations with all of its employees; any resurgence of the COVID-19 pandemic and its impact on SaverOne’sbusiness and industry; security, political and economic instability in the Middle East that could harm SaverOne’s business, includingdue to the current war between Israel and Hamas; and other risks and uncertainties, including, but not limited to, the risks detailedin the Company’s Annual Report on Form 20-F filed with the U.S. Securities and Exchange Commission (the “SEC”) on March 25,2024 and in subsequent filings with the SEC. Forward-looking statements contained in this announcement are made as of this date, and SaverOneundertakes no duty to update such information except as required under applicable law.
International Investor Relations Contact:
Ehud Helft
+1 212 378 8040
Israeli Investors Contact:
Jonathan Eilat
[email protected] ****