Janone sells legacy business arca recycling to concentrate on growing biopharm businesses

Sale reduces liabilities by $17.6 million and entails at least $24 million in future payments  las vegas , march 22, 2023 /prnewswire/ -- janone (nasdaq: jan), a biopharmaceutical company specializing in developing non-addicting pain killers and treatments for underlying causes of pain, announced that on march 9, 2023 they entered into a stock purchase agreement with vm7, a delaware corporation, under which vm7 agreed to acquire all of the outstanding equity interests of arca recycling, inc, customer connexx llc and arca canada inc. virland johnson, who has served as arca recycling's cfo and coo for several years is the principal of vm7. sale reduces liabilities by $17.6 million and entails at least $24 million in future payments.
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