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Posted: May 12, 2009
Cancer Therapeutics to Acquire Minority Ownership Share of NanoTherapies
(Nanowerk News) Cancer Therapeutics, Inc., an emerging biotechnology business incubator with a specific emphasis on disruptive cancer treatments and nanotechnology, announced today it has signed a letter of intent to acquire a minority ownership share of NanoTherapies, LLC. in an equity transaction.
NanoTherapies develops life-changing therapies for cancer treatment based on an evolving set of intellectual properties and patents derived from the exploitation of calcium phosphate nanoparticles for therapeutic and diagnostic applications.
"The acquisition of NanoTherapies is a perfect fit for us since we not only have a reliable partner which complements our core business but we now have access to a number of innovative treatments for detecting and treating cancer through the revolutionary science of nanotechnology," said Chene Gardner, President and CEO of Cancer Therapeutics, Inc. "NanoTherapies' products have immediate revenue potential. We believe with great confidence this will be a synergistic effort between our companies with immense potential to be a very successful business relationship."
Gardner said the finalization of the sale is expected to take place in the next 30 days.
About Cancer Therapeutics, Inc.
Cancer Therapeutics, Inc. is a biotechnology business incubator, with a specific emphasis on disruptive treatments and nanotechnology. It seeks out disruptive cancer research and technology opportunities to invest in, develop, and commercialize. The end result will be therapies, treatments, and pharmaceuticals targeted at more efficiently and effectively attacking cancer. CTI seeks partners to co-develop drugs in various stages in our pipeline.