Reliance enters non-binding sheet to acquire majority position in Scent Medical

Reliance Global (RELI) announced that it has entered into a non-binding term sheet to acquire a majority equity position of Scent Medical Technologies. Scentech is a diagnostics company developing artificial intelligence technologies designed to identify disease-associated molecular signatures in human breath. Scentech’s product candidates are under development and have not yet been clinically validated or approved for commercial use. Any potential clinical or commercial outcomes remain subject to successful clinical validation and applicable regulatory clearances or approvals. The proposed transaction is expected to become the first asset within Ezra International Group, Reliance’s newly established division focused on strategic investments in technology-driven companies.