- Contract manufacturer Emergent Health ( OTCPK:EMGE ) said it had executed a letter of intent to acquire Nanosthetic.
- ( OTCPK:EMGE ) rose about 29% .
- The combined companies expect to operate a "Cleanroom", a controlled environment where pollutants like dust, airborne microbes, and aerosol particles are filtered out to provide the cleanest area possible for testing pharmaceutical grade products.
- Nanosthetic's sterile processing techniques produce products which are endotoxin and microorganism free.
- Nanosthetic is a biologics firm that manufacturers products sold by Emergent subsidiary Evolutionary Biologics.
- The transaction is subject to due-diligence, negotiation of definitive agreements, and a commitment after closing of funding to purchase equipment and construction of the cleanroom.
- Emergent bought Evolutionary Biologics in July last year.
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Emergent surges 29% on letter of intent to acquire biologics manufacturer Nanosthetic