Karo Bio's acquision of the American biotechnology company Novalon Pharmaceutical Corporation was completed today along the lines announced in Karo Bio's March 27 press release
Press Release 10 May 2000
KARO BIO COMPLETES ITS ACQUISITION OF NOVALON
- According to Torben Jørgensen, President of Karo Bio, through the acquisition of Novalon, Karo Bio receives access to a technology which enables the development of new innovative pharmaceuticals. In addition, Karo Bio will start several new projects within the field of nuclear receptors and the Novalon technology will in this context significantly contribute to the international competitiveness of the projects. Moreover, having significant operations in the United States as well as Europe substantially enhances Karo Bio's market exposure to potential collaborators for future development as well as institutional investors.
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