Mauldin-based Xcelerate, Inc on May 7 announced a non-binding letter of intent to pursue a business combination with HS Pharmaceuticals, LLC of Greenville.
The letter allows Xcelerate’s clinicians and researchers to review HS Pharmaceuticals’ operations, structure and intellectual property, according to a release.
“During this process, Xcelerate, a rapidly emerging leader in assembling and developing early-stage medical technology, will determine how and in what structure HS Pharmaceuticals research and IP would fit within its business plan,” Xcelerate CEO Michael F. O’Shea said. “The potential consolidation with HS Pharmaceuticals is further evidence that Xcelerate seeks to continue making headway in finding innovative acquisitions within the patent [and] engineering world.”
HS Pharmaceuticals is led by former Bi-Lo CEO and president, John Wilken. The company is known for its platform of patented and patent-pending silicate particle technologies used for advancements in immunotherapy alternatives, bone regeneration and topical therapies used to combat infection and bacteria, according to its website.
