NexMed Inc. (NEXM) announced the closing of its acquisition of Bio-Quant Inc. Bio-Quant became a wholly-owned subsidiary of NexMed.
Mark Westgate, Chief Financial Officer of NexMed, said, "The acquisition of Bio-Quant was an integral part of our compliance plan which we presented during our November 12, 2009 meeting with the NASDAQ Listing Qualification Panel. We remain hopeful that the closing of this transaction will give the NASDAQ Panel sufficient confidence in NexMed's ability to regain and maintain compliance with all applicable listing requirements going forward."
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