Nu Skin Enterprises has signed an agreement to acquire NOX Technologies,a biotechnology and biodiagnostic company based in Malvern, Pennsylvania for $12.5 million, giving its research and development efforts and important boost
The acquisition, which is subject to the customary competition and regulatory authorities, means that Nu Skin now has crucial access to important NOX technologies and patents that are already used in its anti-aging research and incorporated into its skin care products.
"The acquisition of NOX Technologies demonst rates our ongoing commitment to scientific innovation and provides us with additional tools to target the sources of aging," said chief scientific officer Joe Chang.
The deal aims to fire up the company's research and development program, as Chang also expanded on:"Furthermore, we believe the acquisition will enhance our long-term pipeline of scientifically validated anti-aging solutions for health, beauty and wellness."
Discovery of the arNox age-related protein
NOX Technologies has made some important discoveries in th area of anti-aging skin technologies, not the least the identification of the arNOX age-related protein, which is said to play an important role in the understanding of the skin aging process.
The protein is found on the skin cell surface, and NOX claims that it is capable of superoxide generation, which is said to be a relevant and important tool in the fight against skin aging.
"This merger is the culmination of many years of working with Nu Skin researchers on our arNOX technology," said Thomas Shelton, chief executive officer of NOX Technologies.
"NOX Technologies' translation of the basic science around arNOX paved the way for this unique technology to be incorporated into Nu Skin's successful anti-aging research and development efforts."
If the deal meets all the regulatory requirements the companies say that it is expected to occur just before the end of the year.
Acquisition of genomics company last year
At the end of last year Nu Skin closed a transaction to acquire LifeGen Technologies, a genomics company for $11.7m as it looks to extend and strengthen its line of anti-aging products.
One month before the transaction was confirmed, Nu Skin announced the deal was being worked on to acquire the Wisconsin-based firm along with its proprietary tissue bank and gene expression database, patents and other intellectual property related to anti-aging gene research.
Nu Skin began its scientific collaboration with the genomics company three years ago with LifeGen's proprietary genetic science supporting its anti-aging products, including the company's most recent introduction of the ageLoc R2 nutritional supplement.