BiomX Inc. (PHGE), a biotechnology company, announced on Monday the acquisition of a controlling interest in DFSL, an engineering company, as part of the company's expansion into the defense sector.
The consideration for the acquisition includes a cash payment, an unsecured convertible note, and warrants exercisable at $12 per share.
BiomX previously acquired Zorronet this month, integrating its AI (artificial intelligence)-driven platform for fast and error-free detection of targets, reducing false alarms. The company plans to integrate the acquired technologies to allow for simultaneous detection, analysis, and response.
DFSL specializes in both hardware and signal processing, and developed LADAR (laser detection and ranging) for real-time tracking of aerial or ground targets.
PHGE closed Monday at $2.63, down 9.00%. In the overnight market, shares are trading at $2.68, up 1.90%.
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