NuOncology Labs Completes Merger
VIRGINIA BEACH, Va.--(BUSINESS WIRE)--Aug. 11, 1998--NuOncology Labs, Inc. (OTC BB: NLAB - news), a Florida Corporation, announced today that it has completed the acquisition of all the outstanding and issued shares of NuOncology Labs, Inc. (NuLab), a private Virginia Corporation.
The new combined entity will maintain the name NuOncology Labs, Inc.
NuOncology Labs, Inc. participates in the multi-billion dollar cancer treatment industry by supporting the research and marketing of a promising cancer treatment along with the delivery of predictive tests for the optimization of contemporary cancer treatment. Both activities could greatly improve clinical outcomes while reducing treatment costs.
''This acquisition completes the initial phase of our strategy to consolidate selected cancer treatment and research operations and technologies, and related patent rights, within a single public company.
''It is very gratifying to us to have brought together a team of such highly qualified physicians, scientists and management professionals to pursue this important work,'' stated Philip Enlow, Chairman and CEO of NuOncology Labs, Inc.
''NuLab management will now focus on revenue and market share growth for our oncology laboratory operations and services which provide a full menu of predictive tests on tissue biopsies, including chemosensitivity assays (CSA's), while our scientific team continues development of our lead cancer treatment compound, Arglabin.''
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