CleanGo Innovations Inc., a Canadian company specializing in environmentally sustainable cleaning solutions, announced through its subsidiary Kubera Black Technology Inc. a planned acquisition of Italian pharmaceutical leader Freia Farmaceutici Srl. The non-binding Letter of Intent, dated December 16, 2025, represents a strategic expansion into the global health sector for CleanGo.
Freia Farmaceutici, established in 2009 and headquartered in Milan, has built expertise in developing plant-based therapeutic solutions. The company focuses on medical devices, nutritional supplements, and food for special medical purposes derived from vegetable sources. Their approach aligns with growing consumer interest in well-being and disease prevention through natural solutions with minimal side effects.
The company's scientific portfolio includes the ALFALIFE brand of vegetable omega oils, which demonstrate significant anti-inflammatory properties with applications in cardiovascular diseases, obesity, and child neuropsychiatry. Freia's Dermolife line features Class IIA Medical Devices registered for dermatological conditions including radiodermatitis prevention and treatment, atopic dermatitis, and scar remodeling. Through its PROMEDIAL brand, developed in partnership with international companies since 2016, Freia offers aesthetic medicine solutions for healthy skin through both topical and nutraceutical products.
Freia's pipeline includes development in gynecology, gastroenterology, and pneumology fields, along with a product with applications for Multiple Sclerosis currently registered as a food supplement with promising clinical trials ongoing. The company reported gross revenue exceeding €3.1 million in 2024, with all revenue generated in the Italian market, resulting in a net positive balance sheet. Freia is on pace to exceed its 2024 revenue numbers in 2025.
Under the proposed transaction terms, Freia shareholders would exchange their securities for up to 25 million common shares of Kubera. Following completion, the resulting company would continue Freia's business while aiming to complete subsequent equity financing to support business objectives for at least twelve months. The board would consist of five directors, with four nominated by Freia and one by CleanGo. The transaction includes no assumption of long-term debt by Kubera.
Completion remains subject to due diligence, negotiation of a definitive agreement within 45 days, and necessary board, shareholder, and regulatory approvals. For CleanGo, this acquisition represents an opportunity to integrate Freia's innovative plant-based therapeutic solutions into its portfolio, particularly in the growing nutraceutical and aesthetic medicine sectors. The transaction would provide Freia with immediate access to Canadian and U.S. markets through the resulting corporate structure, while expanding CleanGo's market presence beyond its current focus on cleaning and industrial solutions for oil services and industrial cleaning markets.
CleanGo Innovations, traded on the Canadian Securities Exchange under symbol CGII, develops proprietary non-toxic and biodegradable cleaning solutions for oil services and industrial cleaning markets globally. The company views this acquisition as enhancing its market position through integration of sustainable health solutions. Additional information about the announcement can be found at https://www.newmediawire.com.
