The proposed acquisition is expected to allow ALDA to manufacture its own T36 products, to continue the manufacture of SHBP’s own related product lines, which it will retain, and the capacity for future expansion.
SHBP is operating a manufacturing facility in Vancouver, British Columbia with approvals to sell pharmaceutical, nutritional and personal care products in Canada and the US.
ALDA president and CEO Terrance Owen said on completion of the acquisition, the company attains a long-standing goal of controlling the manufacturing of T36 products, increases its revenue stream and allows management to focus its energies on the therapeutic applications of the T36 technology.
"It will also be beneficial for ALDA to have its own approved facility for manufacturing products required for anticipated clinical trials of T36® infection-control therapeutics," Owen said.
Completion may occur any time up 8 August 2011 and is subject to a number of conditions.