Cancer Therapeutics Acquires Minority Stake in 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 completed a formal agreement to acquire a minority ownership share of NanoTherapies, LLC. Finalization of the agreement comes after signing a Letter of Intent as reported in a press release dated May 12, 2009 along with the completion of an extensive due diligence review which was being conducted prior to the LOI.
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 a 25% stake in NanoTherapies is the first acquisition completed by Cancer Therapeutics. Chene Gardner, President and CEO of Cancer Therapeutics, Inc., said the company is focused on generating revenue and is interested in acquiring other companies which fit in the new business model.
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.