NEW YORK–(BUSINESS WIRE)–JMD Properties, Inc. (OTC: JMDP) today announced it has acquired Stella Diagnostics, LLC, in a preferred stock acquisition and will be changing its name to Stella Diagnostics, Inc., to better express the new focus of the company.
Daniel Wainstein, the Chairman of the Board, noted, “the Company is confident that a move into the diagnostic sector of the biotech industry will be beneficial both to our investors and to all those suffering from serious esophageal disease which is an underserved and ever-growing patient population in the U.S. and abroad.”
Incoming CEO, Dr. Joe Abdo, said, “Six million Americans are living with Barrett’s esophagus which can be a precursor to the deadliest cancer relative to incidence in our country. Alarmingly, the rate of incidence of esophageal cancer is rising faster than any other cancer, with a 6-fold increase over two decades. Four out of five esophageal cancer patients present to their oncologist in the advanced stages of cancer progression, which is why survival durations are so short after diagnosis. Our mission at Stella Diagnostics is to stratify patients by disease severity with our multi-pronged diagnostic approach. In doing so, high risk patients will be identified when the disease is still in a treatable state. We are very excited about the transaction with JMDP which will provide Stella Diagnostics the resources to get our tests into the hands of patients and their providers quickly.”
In conjunction with the acquisition and name change, the Company will be filing for a symbol change. The Company will be filing this corporate action with FINRA.
About Stella Diagnostics, Inc.
Stella Diagnostics, Inc., is a molecular diagnostics-based organization focused on improving patient management strategies for the over 67 million people living with severe esophageal disease. The Company’s proprietary technology offers physicians insight into the molecular properties of their patients’ tissue to determine if the disease is stable, progressing, or turning cancerous. For more information, visit (www.stelladx.com).
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