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Nov. 14, 2012 /PRNewswire/ -- Nu Skin Enterprises, Inc. (NYSE: NUS) announced today that it has signed an agreement to acquire NOX Technologies, Inc., a biotechnology and biodiagnostic company based in
Malvern, Pennsylvania for
$12.5 million. The agreement includes the acquisition of technology and patents, including previously licensed technology already utilized in connection with Nu Skin's anti-aging research efforts.
"The acquisition of NOX Technologies demonstrates our ongoing commitment to scientific innovation and provides us with additional tools to target the sources of aging," said Chief Scientific Officer
Joe Chang, Ph.D. "Furthermore, we believe the acquisition will enhance our long-term pipeline of scientifically validated anti-aging solutions for health, beauty and wellness."
NOX Technologies provides Nu Skin scientists with a deeper understanding of the aging process and supports the company's ability to understand important sources of aging. arNOX, an age-related protein identified by NOX Technologies, is found on the cell surface and is capable of superoxide generation, a relevant aspect of the aging process.
Thomas B. Shelton, chief executive officer of NOX Technologies, "This merger is the culmination of many years of working with Nu Skin researchers on our arNOX technology. 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."
The acquisition is subject to customary closing conditions, including approval of the transaction by the stockholders of NOX Technologies, Inc. Closing is expected to occur prior to the end of 2012.
About NOX Technologies, Inc. Established in 2003, NOX Technologies, Inc. is a biotechnology and biodiagnostic company focused on the identification, characterization and detection of cell surface proteins relating to aging. Through its research and development efforts, NOX Technologies identified agents that interact with age-related ECTO-NOX proteins (arNOX).
NOX Technologies' discovery of specific inhibitors of arNOX that potentially ameliorate skin damage and the signs of aging led to Nu Skin's development of specific skin care products that are useful for improving the youthful appearance of the skin.