PROVO, Utah, Nov. 14, 2012 /PRNewswire/ -- Nu Skin
Enterprises, Inc. (NYSE: NUS) announced today that it has signed an
agreement to acquire NOX Technologies, Inc., a biotechnology and
biodiagnostic company based in Malvern,
Pennsylvania for $12.5
million. The agreement includes the acquisition of
technology and patents, including previously licensed technology
already utilized in connection with Nu Skin's anti-aging research
efforts.
"The acquisition of NOX Technologies demonstrates our ongoing
commitment to scientific innovation and provides us with additional
tools to target the sources of aging," said Chief Scientific
Officer Joe Chang, Ph.D.
"Furthermore, we believe the acquisition will enhance our long-term
pipeline of scientifically validated anti-aging solutions for
health, beauty and wellness."
NOX Technologies provides Nu Skin scientists with a deeper
understanding of the aging process and supports the company's
ability to understand important sources of aging. arNOX, an
age-related protein identified by NOX Technologies, is found on the
cell surface and is capable of superoxide generation, a relevant
aspect of the aging process.
According to Thomas B. Shelton,
chief executive officer of NOX Technologies, "This merger is the
culmination of many years of working with Nu Skin researchers on
our arNOX technology. NOX Technologies' translation of the basic
science around arNOX paved the way for this unique technology to be
incorporated into Nu Skin's successful anti-aging research and
development efforts."
The acquisition is subject to customary closing conditions,
including approval of the transaction by the stockholders of NOX
Technologies, Inc. Closing is expected to occur prior to the
end of 2012.
About NOX Technologies, Inc.
Established in 2003, NOX Technologies, Inc. is a biotechnology and
biodiagnostic company focused on the identification,
characterization and detection of cell surface proteins relating to
aging. Through its research and development efforts, NOX
Technologies identified agents that interact with age-related
ECTO-NOX proteins (arNOX).
NOX Technologies' discovery of specific inhibitors of arNOX that
potentially ameliorate skin damage and the signs of aging led to Nu
Skin's development of specific skin care products that are useful
for improving the youthful appearance of the skin.
About Nu Skin Enterprises, Inc.
Nu Skin Enterprises,
Inc. demonstrates its tradition of innovation through its
comprehensive anti-aging product portfolio, independent business
opportunity and corporate social responsibility initiatives. The
company's scientific leadership in both skin care and nutrition has
established Nu Skin as a premier anti-aging company. The
company's anti-aging products feature the new ageLOC® suite of
products including the ageLOC®R2 nutritional
supplement, ageLOC® Galvanic Spa System and
ageLOC Galvanic Body Spa™, as well as the
ageLOC® Transformation daily skin care system. A global direct
selling company, Nu Skin operates in 53 markets worldwide
and has more than 900,000 active distributors and preferred
customers. Nu Skin is traded on the New York Stock
Exchange under the symbol 'NUS'. More information is available
at http://www.nuskin.com.
Please Note: This press release contains
forward-looking statements within the meaning of Section 27A of the
Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended that represent the
company's current expectations and beliefs. All statements other
than statements of historical fact are "forward-looking statements"
for purposes of federal and state securities laws and include, but
are not limited to, statements of management's expectations and
beliefs regarding the company's acquisition of NOX Technologies,
Inc.; statements regarding acquisition timing, terms and
conditions; statements regarding the impact of the acquisition on
the company's scientific research and product development efforts;
statements regarding the company's plans and strategies; statements
of belief; and statements of assumptions underlying any of the
foregoing. In some cases, you can identify these statements by
forward-looking words such as "believe," "expect," "project,"
"anticipate," "estimate," "intend," "plan," "targets," "likely,"
"will," "would," "could," "may," "might," the negative of these
words and other similar words.
The forward-looking statements and related assumptions
involve risks and uncertainties that could cause actual results and
outcomes to differ materially from any forward-looking statements
or views expressed herein. These risks and uncertainties include,
but are not limited to, the following:
- risks that the acquisition may not be completed or may cost
more or take longer to complete than anticipated; and
- risks related to the company's ability to effectively
integrate and utilize NOX Technologies, Inc. in the company's
scientific research and product development efforts.
The forward-looking statements contained herein are further
qualified by a detailed discussion of associated risks set forth in
the documents filed by the company with the Securities and Exchange
Commission. The forward-looking statements set forth the
company's beliefs as of the date that such information was first
provided and the company assumes no duty to update the
forward-looking statements contained in this release to reflect any
change except as required by law.
SOURCE Nu Skin Enterprises, Inc.