EVENTS | VIEW CALENDAR
Getting in the zone
MIAMI—In a move aimed at building a pharmaceutical company that develops, manufactures and markets select drug products, BioZone Pharmaceuticals Inc. has acquired all of the outstanding common stock of contract manufacturer BioZone Laboratories Inc.; all of the outstanding membership interests of Equalan Pharmaceuticals LLC and Equachem LLC; and 45 percent of the outstanding membership interests of BetaZone LLC in exchange for 21 million shares of the company's restricted common stock.
"This exciting acquisition enables the BioZone Pharmaceutical management team and me to embark on our stated mission of building a premier specialty pharmaceutical company," BioZone Pharmaceuticals President Roberto Prego-Novo stated in a July 7 news release. "We intend to leverage our deep and strong relationships in the pharmaceutical arena and invest wisely in our manufacturing facilities, R&D laboratories and our robust drug pipeline. Moreover, I intend to draw on my experience and contacts to assemble the best possible team of scientific advisors and medical practitioners to assist us in achieving our goal. We look forward to the challenges ahead."
On Feb. 22, Santana Martinez, director of the company, CEO Timothy Neely and Eduardo Biancardi, director, president, treasurer and secretary, all resigned their positions—but not due to any disagreement with company policies and practices or its management, according to the company.
On Feb. 24, Prego-Novo took the helm of the company, then-named International Surf Resorts Inc. On March 2, the company was renamed BioZone Pharmaceuticals to better reflect its purpose and mission.
Prego-Novo, who has more than 35 years of experience as a senior executive in the pharmaceutical industry, served as the Latin America vice presidents of Teva Pharmaceutical Industries Ltd. from 2006 to 2010 and IVAX Corp. from 2001 to 2006.
The BioZone Labs Group, founded in 1987, develops, manufactures and markets proprietary and third-party over-the-counter drugs. The company deploys its QuSome technology in several of its marketed drugs and has a robust drug pipeline of QuSome-enhanced drug candidates addressing unmet medical needs in significant markets.
Brian Keller, BioZone's group co-founder, president and chief scientific officer, stated, "my co-founder, Daniel Fisher, and I are extremely proud of the company that we have built over the last 24 years with the help of the entire BioZone team of employees. We are delighted that we now have the expertise and financial resources to build on BioZone's solid foundation."
Keller is also the inventor of the QuSome technology platform, which he says "has tremendous potential for improving many drug products that currently suffer from poor solubility and stability. We are confident that with Mr. Prego-Novo's strong leadership, experience and relationships, we will achieve success."
In May 2011, the company announced that it acquired the assets and assumed the liabilities of Aero Pharmaceuticals Inc. Aero develops and markets the Baker- Cummins line of proprietary scalp and skin care products used to treat commonly seen dry skin and scalp conditions.
In addition, the company recently announced that it sold $2.25 million of promissory notes to be invested in its combined manufacturing and R&D facilities and drug development pipeline.