The managements of both the companies see the potential in merging the two technologies to meet the clinical need for real-time in vivo metabolic imaging using a natural element and a bioinert molecule compared to the only alternative current methodology using radio tracers.
Thomas Drees, Sanguine’s CEO, said: “The acquisition is in keeping with our immediate and long-term commercialization plans. The combined management teams have the product development, regulatory affairs, marketing and management experience to see their technology products, into global commercial sales. The two companies have highly respected medical advisory boards able to guide their products through development. We expect their products to evolve into the standard of next generation care.
“We expect that mutual due diligence will take approximately 30-45 days. Following the completion of the due diligence, and the completion of the acquisition, the new board will select the best management team from within the current management and outside, if necessary, to fully harness the market potential of these technologies.”