Veridien Corporation, a Florida-based anti-infective and drug development company, has secured the rights to acquire RTP-based Mycosol.
Mycosol is a chemical and pharmaceutical firm and has five patents pending for anti-infective technology. Veridien said Mycosol’s technology complements its own, which focuses on anti-infectives products known as Viraguard.
Mycosol products are non-alcohol based. Veridien’s include alcohol. Mycosol technology was originally licensed from Burroughs Wellcome and expanded to include patent coverage in five areas.
Veridien announced investments would be made in Mycosol of an undisclosed amount, but the deal does give it the right to acquire the firm.
Also on Friday, Veridien announced that Richard Klein, the chief executive officer of Mycosol, had joined its board of director. Klein is a co-founder of Mycosol.
“We believe that the combination of our very experienced health industry management and synergistic technologies has the potential to greatly enhance the business and market opportunities for Veridien and Mycosol,” Klein said in a statement.
Veridien (OTCBB: VRDE) reported net income of nearly $390,000 in the first quarter of this year compared to a $233,700 loss a year earlier.