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Posted: November 2, 2007
Cosmographics Pvt. Ltd Signed LOI To Acquire All The Interest Of AT-GC BioPharm
(Nanowerk News) Avanti Therapeutics, Inc. announced that Cosmographics Pvt. Ltd (CPL) has signed a letter of intent to acquire 100% of the interest of its manufacturing operation subsidiary, AT-GC BioPharm, a biopharmaceutical manufacturing company headquartered in Baltimore, Maryland. The company believes that the acquisition will expand CPL's presence in the biopharmaceutical manufacturing capacity by utilizing AT-GC BioPharm's well established intelligent manufacturing platform licenses and logistic facilities. The acquisition would also add direct outsourcing channels into small and mid sized biopharmaceutical companies in the region.
According to the letter of intent, CPL would use its internal available resource to complete the acquisition. "We are very happy to see this acquisition could take place," said Sunil Majmundar, CEO of Cosmographics Pvt. Ltd. "It would significantly improve our current manufacturing platforms and widen our product lines in the near future."
“The acquisition will help us develop new nanotechnology based technology platforms to accelerate our current drug development pipeline for cancer and infectious diseases” according to Dr. Arkesh Mehta, CEO of Avanti Therapeutics. Dr. Tracy Tucker, Director of R&D at Avanti Therapeutics is optimistic that the transaction will help in developing silica based nanoparticles with core-shell architecture that will be used to accelerate biomarker monitoring and targeted drug delivery of therapeutics.
About AT-GC BioPharm
AT-GC BioPharm is an emerging biopharmaceutical company dedicated to the discovery and development of innovative technologies for rapidly advancing knowledge based manufacturing of biopharmaceutical products for consistent quality. AT-GC BioPharm is uniquely able to develop innovative technologies by accelerating and enhancing the process development skills and experience of proven drug manufacturing processes with world-class, proprietary process development technologies developed in collaboration with their partners. AT-GC BioPharm has established an exclusive worldwide strategic alliance with Avanti Therapeutics to develop and commercialize novel drug compounds for the treatment of infectious diseases and cancer. The company operates globally with headquarters in Clarksburg, Maryland, USA, and major offices in Baltimore, MD., Oxford, UK, and Mumbai, India. To learn why more and more biopharmaceutical companies trust AT-GC BioPharm as their preferred process development partner, visit www.at-gc.com.
Safe Harbor Statement
Some of the statements here discuss future events and developments, including the Company's future business strategy and its ability to generate revenue, income and cash flow, and should be considered forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These "forward-looking" statements can generally be identified by words such as "expect," "anticipate," "believe," "estimate," "intend," "plan," and similar expressions. These statements involve a high degree of risk and uncertainty that exists in the Company's operations and business environment and are subject to change based on various factors that could cause actual Company results, performance, plans, goals and objectives to differ materially from those contemplated or implied in these forward-looking statements. Actual results may be different from anticipated results for a number of reasons, including the Company's new and uncertain business model, uncertainty regarding acceptance of the Company's products and services and the Company's limited operating history.