Wound Care Innovations, LLC, a subsidiary of Wound Management Technologies, Inc., (WNDM.OB), announced today that it has reached an agreement in principle to acquire BioPharma Management Technologies, Inc., a privately held biotechnology company with a platform of proprietary and patented technologies for topical pain management and resorbable orthoses. The transaction would be structured as a share exchange pursuant to which BioPharma would become a wholly owned subsidiary of Wound Management in exchange for 5,000,000 shares of Wound Management common stock. The transaction is subject to certain contingencies, including a complete legal, financial and technical review of BioPharma by Wound Management.
“We believe that BioPharma’s proprietary technologies and its future products will be complementary to CellerateRx and will provide a broad application across several of the medical markets that we currently serve,” said Mr. Scott Haire, Wound Management’s Chief Executive Officer. “We have been focused on bringing the science and technology of CellerateRx to the market over the past year, and we believe that the additional science and technology behind BioPharma would solidify Wound Management as a leading provider of wound care products.”
Source: Wound Management Technlogies