Fifty 1 Labs, Inc. (OTC: FITY), a Nevada corporation and dynamic holding company in the health, wellness, and biotech sectors, announces its transformative acquisition of Genetic Networks LLC, a Delaware-based biotech firm founded by Dr. Gennaro D’Urso, for a purchase price of $10 million paid in common shares. Concurrently, Dr. D’Urso has been appointed CEO and Chairman of Fifty 1 Labs, Inc., ushering in a new era of leadership, while Brandon Spikes remains President and Director. With Genetic Networks’ team actively negotiating multi-million dollar contracts with the U.S. Department of Defense (DoD), this strategic move positions FITY for rapid expansion and leadership in the fast-growing biotechnology and wellness markets.
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Source: https://www.globenewswire.com/news-release/2025/03/20/3046282/0/en/Fifty-1-Labs-Inc-FITY-Acquires-Genetic-Networks-Working-to-Secure-Multi-Million-Dollar-DoD-Contracts-and-Positions-for-Rapid-Expansion-in-Biotech-Innovation.html