Empower Clnincs Inc. has released a corporate update covering its developing research and clinical trials divisions.
Last month, Empower subsidiary EPW Curesearch LLC announced an agreement to develop a program for research and clinical trials services with a Dallas, Texas-based medical center.
Since then, Empower has signed three more research agreements, bringing its total to four, which it says paves the way to bring on multiple research and clinical trial agreements from sponsors and CRO's.
Meanwhile, Empower is exploring strategic options to improve shareholder value with the engagement of Haywood Securities as its strategic financial advisor.
The two parties have put forth a number of possible initiatives, created a due diligence data room and updated investment material to be used in conjunction with opportunity analysis. They found that key opportunities exist with Medi+Sure Canada and The Medi Collective, according to a statement.
Medi+Sure Canada is operating with a reduced workforce to control costs while processing customer requests and accelerating efforts on account receivable collection, the company said.
Elsewhere, the Kai Medical Laboratory has ceased operations at its facility in Dallas. Kai also filed for Chapter 7 bankruptcy.
Empower also reached a C$90,000 debt settlement agreement with creditors on May 5. The company issued 6 million shares at a price of $0.015 each.
On Tuesday, the company issued 10 million shares priced at $0.05 as discretionary special bonuses to two employees.
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