Inc. (OTCBB: CTHP), 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.