CleanGo Innovations Subsidiary Kubera to Acquire Italian Pharmaceutical Firm Freia Farmaceutici
TL;DR
CleanGo Innovations acquires Freia Farmaceutici to gain a competitive edge in the global health sector with plant-based therapeutics and access to European markets.
CleanGo's subsidiary Kubera will acquire Freia through a share exchange of up to 25 million shares, subject to due diligence and regulatory approvals within 45 days.
This acquisition promotes sustainable, plant-based therapeutic solutions with no known side effects, advancing ethical healthcare and disease prevention globally.
Freia's ALFALIFE brand uses vegetable omegas to treat cardiovascular diseases and child neuropsychiatry, while their aesthetic line targets healthy skin solutions.
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CleanGo Innovations Inc., a Canadian company specializing in environmentally sustainable cleaning solutions, announced through its subsidiary Kubera Black Technology Inc. a proposed acquisition of Italian pharmaceutical firm Freia Farmaceutici Srl. The non-binding Letter of Intent, dated December 9, 2025, represents a strategic expansion into the global health sector for CleanGo, which has traditionally focused on industrial cleaning markets.
The acquisition targets Freia Farmaceutici, a Milan-based company established in 2009 that has developed expertise in plant-based therapeutic solutions. Freia specializes in developing non-drug therapeutic products including medical devices containing bioactive substances, nutritional supplements, and food for special medical purposes. The company's approach emphasizes ethical and sustainable development of plant-derived actives with no known side effects, aligning with growing consumer awareness of well-being and disease prevention.
Freia's product portfolio includes the ALFALIFE brand of vegetable omega oils with demonstrated anti-inflammatory properties applicable to cardiovascular diseases, obesity, and child neuropsychiatry. The company's Dermolife line features Class IIA Medical Devices for dermatological conditions including radiodermatitis prevention and treatment, atopic dermatitis, and scar remodeling. Through its PROMEDIAL brand, developed in partnership with international companies since 2016, Freia has expanded into aesthetic medicine with both topical and nutraceutical solutions for healthy skin.
Financially, Freia reported gross revenue exceeding €3.1 million in 2024, with all revenue generated within the Italian market, resulting in a net positive balance sheet. The company is on pace to exceed these revenue numbers in 2025. Under the proposed transaction, Freia would gain immediate access to Canadian and U.S. markets through CleanGo's corporate structure, while maintaining its planned expansion into other European markets.
The transaction terms call for Freia shareholders to exchange their securities for up to 25 million common shares of Kubera, with specific valuation details to be outlined in a definitive agreement. Following completion, the resulting company would continue Freia's business operations with a board of directors consisting of four Freia-nominated directors and one CleanGo-nominated director. The agreement specifies that Kubera will not assume any long-term debt from Freia.
Completion remains subject to due diligence, negotiation of a definitive agreement within 45 days, and necessary board, shareholder, and regulatory approvals. CleanGo Innovations believes this acquisition will enhance its market position by integrating Freia's pipeline of plant-based therapeutic solutions, particularly in the growing nutraceutical and aesthetic medicine sectors. The original announcement can be viewed on www.newmediawire.com.
Curated from NewMediaWire
