Monday, NexMed Inc. (NEXM) said it has entered into a definitive agreement to acquire Bio-Quant, Inc., a revenue generating privately-held research organization for in vitro and in vivo contract drug discovery and pre-clinical development services, headquartered in San Diego, CA.
NexMed said that the agreement provides for its issuance of 4,000,000 unregistered shares of its common stock to the Bio-Quant shareholders and a promissory note in the amount of about $12.1 million due on December 31, 2010. NexMed can elect to pay all or any portion of the note by issuing its common stock. Such repayment in common stock is contingent upon NexMed shareholder approval. As a condition to closing, there will be a Bio-Quant shareholders meeting. Certain key shareholders of Bio-Quant have agreed to vote in favor of the transaction.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.