24 January 2008 - Nano Chemical Systems Holdings, Inc. announced today that it has entered into a Letter of Intent with Calgenex Corporation for the acquisition of Calgenex by Nanochem.
Calgenex develops and markets novel, patented or patent pending, condition specific dietary supplements and topical over-the-counter (OTC) drugs and personal care products.
The products are scientifically formulated to help treat a variety of acute and chronic conditions. The products are marketed direct to physician resellers throughout the United States. In addition, the Company markets direct to consumers over the internet.
"We are excited about the opportunity to bring a dynamic, market and scientific based company like Calgenex into Nanochem," stated Alex H. Edwards III, Nanochem's CEO. "They are seeking solutions for specific health conditions affecting the aging baby boomer population like Soft Tissue Calcification, Cholesterol, Osteoporosis, Psoriasis, and Eczema. These conditions represent an ever expanding part of healthcare expenditures," concluded Edwards.
"The move to the public marketplace has always been in our long term plans," stated Grant Carlson, Calgenex president & CEO. "The increased access to capital, as well as the opportunity to create tremendous shareholder value, make the move into Nanochem a perfect fit."