Bio-America Completes the Acquisition of Novocure Inc.
TORONTO - Bio-America is pleased to announce that it has completed the acquisition of all of the issued and outstanding shares of a private biotechnology company, Novocure Inc., in exchange for 4.2 million shares of Bio-America, Inc.
Novocure is a private company that holds the intellectual property rights and trademarks in the biotechnological innovations of Dr. Eliezer Huberman. Dr. Huberman is recognized as one of the world's leading cellular and molecular biologists.
Effective immediately, Dr. Huberman has been appointed to head the Scientific Advisory Board of Bio-America. Dr. Huberman is currently Group Leader & Senior Biologist at the Argonne National Laboratory. Argonne was the United States first national laboratory, chartered in 1946. Today, the laboratory has more than 4,000 employees, including about 1,400 scientists and engineers, of whom about 700 hold doctorate degrees. Argonne's annual operating budget of more than $475 million supports upwards of 200 research. During his tenure as the Center's director, Dr. Huberman has been in charge of managing and administering a multi-disciplinary program that spans the fields of molecular genetics, genome research, structural biology and computational biology. He was responsible for initiating new programs and recruited most of the leading scientists at the Center.
Throughout the years Dr. Huberman has served as the associate editor of a number of prestigious scientific journals. He also serves on various advisory committees in both the United States and abroad. These committees include the Massachusetts Institute of Technology and the prestigious Englehard Institute, which is Russia's premier biological research center. Dr. Huberman has frequently been invited to chair sessions and be a speaker at international meetings and over 200 of his papers have been published in leading scientific journals. Two of Dr's Huberman's articles have been the most cited articles in the years they were published.
"This acquisition and the continued collaboration with Dr. Huberman uniquely positions Bio-America to rapidly move towards commercialization. With the acquisition of Novocure, Bio-America now has in place, a foundation from which the company can pursue its goal of becoming a highly successful research and development biotechnology company." said Tom Stevens President of Bio-America. "This acquisition also demonstrates a key aspect of the corporate strategy of Bio-America. We will continue to seek opportunities to acquire new and exciting technologies, developments and products that will enhance our capabilities."
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