Canterbury Laboratories, Hygeia Therapeutics, Histogen, Stratus Media Group deal
Stratus announced that it will merge with Hygeia and its spinout, Canterbury. The resulting company will remain publicly traded and be called Restorgenex Corp., which plans to build an anti-aging skincare brand for women over 45 years. Sol Barer, formerly chairman and CEO of Celgene Corp. (NASDAQ:CELG, Summit, N.J.), will become chairman of Restorgenex, effective Nov. 1. Isaac Blech will become vice-chairman, effective Nov. 1. Yael Schwartz, founder and CEO of Canterbury and Hygeia, will join Restorgenex's board. She will also serve as president of the Canterbury and Hygeia divisions. The companies are finalizing closing conditions for the deal.
Stratus also announced it has signed a letter of intent to merge with Histogen to "expand its entrance into the biotechnology industry." The boards of both companies have approved the LOI and the companies are completing a formal merger agreement. Gail Naughton, president, CEO and chairman of Histogen, will become CEO of Restorgenex, which will be headquartered in San Diego. The deal is subject to the approval of Histogen's shareholders. ...