Leading
international sports nutrition company MusclePharm announced it has completed
its acquisition of essentially all assets of BioZone Pharmaceuticals and its
subsidiaries in exchange for 1.2 million shares of MusclePharm stock.
According to the
terms of the agreement, MusclePharm has, through newly formed Nevada subsidiary
Biozone Laboratories, Inc., acquired BioZone’s Richmond, Calif., manufacturing
facility; all assets associated with BioZone’s QuSomes, HyperSorb an EquaSome
technologies; the company’s Baker-Cummins line of products; and the name
BioZone.
“We believe that
BioZone is a complementary fit for MusclePharm, providing substantial
opportunities to further enhance our science and quality control systems as
well as advance our innovation capabilities, which will add sophistication to
the sports nutrition market,” said MusclePharm CEO Brad Pyatt. “We also believe
that it gives us a long-term roadmap to eventually take control of our
manufacturing and allow MusclePharm to be a fully integrated company.”
MusclePharm is
evaluating BioZone’s patented QuSomes technology, which enhances the absorption
of topical and other drugs, to determine if combining QuSomes with nutritional
supplements could enhance the absorption and speed-of-delivery in several of
MusclePharm’s products.
MusclePharm managers
believe acquiring BioZone will provide an opportunity to bring science,
innovation and sophistication to the sports nutrition market and will enable
meaningful cost savings through utilizing existing BioZone facilities in
northern California, establishing a new West Coast distribution center for
MusclePharm products. The company also believes the acquisition will provide an
opportunity to realize significant cost savings through internalizing and
consolidating MusclePharm’s product quality control programs, which are
currently being outsourced, as well as the ability, over time, to internalize
various manufacturing components of the company’s products.
For more
information, visit www.musclepharmcorp.com
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