12.14.11
Nu Skin Enterprises, Inc. has completed the acquisition of LifeGen Technologies, LLC, a genomics company based in Madison, WI for $11.7 million.
"We are pleased to have completed the acquisition of LifeGen," said Dr. Joseph Chan, Nu Skin's chief scientific officer. "We believe the acquisition significantly enhances Nu Skin's position as a leader in the anti-aging industry, providing Nu Skin exclusive ownership of LifeGen's substantial intellectual property encompassing more than 30 years of breakthrough scientific study on the genetic sources of aging and a proprietary algorithm that identifies important age-related genes."
Chan noted that the global anti-aging market is expected to grow at a rapid rate in the coming years. By bringing the proprietary LifeGen scientific assets and expertise in house, Nu Skin said it is in a unique position to develop a steady stream ofsuper-class of anti-aging products that help people live younger, longer.
Chan noted that the global anti-aging market is expected to grow at a rapid rate in the coming years. By bringing the proprietary LifeGen scientific assets and expertise in house, Nu Skin said it is in a unique position to develop a steady stream ofsuper-class of anti-aging products that help people live younger, longer.
The company initiated its scientific collaboration with LifeGen in 2009. Since that time, LifeGen's proprietary genetic science has enhanced the development of Nu Skin's next-generation super-class of anti-aging products, including the company's most recent introduction of the ageLOC R2 nutritional supplement.
"We are already feeling the positive impact of LifeGen's proprietary databases as we develop ageLOC products for introduction in 2013," continued Chang. "Together, we are discovering new genetic insights for weight loss and overall longevity that have unique application foranti-agingsolutions. Overall, I believe that the acquisition of LifeGen cements our ability to truly create the most innovative products in the anti-aging category for many years to come."