Crescita Therapeutics Inc. (CTX.TO), a Canadian dermatology company, Thursday announced that it has agreed to acquire all of the non-real estate business assets of Occy Laboratory Inc., a maker of dermocosmetic products.
The sale of the assets is pursuant to the voluntary proceedings undertaken by Occy under the Bankruptcy and Insolvency Act.
The list of assets that includes manufacturing equipment, inventory, customer network, and intellectual property are expected to enhance Crescita's product offering and customer network.
Serge Verreault, CEO of Crescita, said: "We are pleased to expand our skincare portfolio with Aquafolia, Occy's lead product line."
The transaction received a vesting and approval order rendered by the Québec Superior Court at a sale approval hearing on June 19.
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