Advanced Enzyme Technologies Limited — JV/Acquisition, 05-12-2024: Acquisition

Advanced Enzyme Technologies Limited's wholly owned subsidiary, Advanced Enzymes USA (AEU), has approved the formation of a new corporation, Starya Labs, Inc., in California. This entity will take over the enzyme/probiotic laboratory testing services from Cal-India Foods International USA, a step-down subsidiary, along with specific assets and liabilities valued at up to $500,000. The spin-off aims to create a focused laboratory specializing in enzyme/probiotic product testing, enhancing operational efficiency and market presence. Starya Labs will operate as a wholly owned subsidiary of AEU, with a completion target by March 31, 2025.