RestorGenex Corporation announced today the closing of its acquisition of two biopharmaceuticals companies, Paloma Pharmaceuticals, Inc. and VasculoMedics, Inc. RestorGenex is a biopharmaceutical company with an initial focus on dermatology, ocular diseases and women's health.
Paloma Pharmaceuticals brings to RestorGenex an integrated design platform technology developing drugs that treat a variety of disease indications. In addition, through the acquisition of VasculoMedics, RestorGenex will gain an epigenetic platform company utilizing computational design to create small molecule drugs inhibiting or stimulating the binding of zinc-finger transcription factor to their cognate DNA.
"We are excited by the technology and opportunities these acquisitions add to the company's portfolio of products," said Stephen M. Simes, chief executive officer of RestorGenex. "Our main objective now is to integrate the new technologies and products into our existing products, and accelerate new product development."
As part of the acquisition, Paloma and VasculoMedics Founder and Chief Executive Officer, David Sherris, Ph.D., will join RestorGenex as Chief Scientific Officer and join the board of directors. "I'm looking forward to helping develop this newly integrated biopharmaceutical company that combines several impressive technologies," said Dr. Sherris.