UTEK Corporation and Xcelience, Inc. Sign a Technology Acquisition Alliance
Published May 21st, 2007
UTEK Corporation (AMEX:UTK) (LSE-AIM:UTK), a specialty finance company focused on technology transfer, and Xcelience, Inc., a drug development and contract manufacturing company, today announced they have signed a technology acquisition alliance.
“Xcelience is pleased to execute this technology acquisition alliance with UTEK,†said Derek G. Hennecke, Chief Executive Officer of Xcelience. “This alliance may enable Xcelience to cost-effectively review and acquire pharmaceutical and drug related technologies to complement its intellectual property portfolio.â€
“UTEK looks forward to working with Xcelience to identify potential technology acquisition opportunities that fit its strategic vision,†commented William R. Porter, Chief Technology Transfer Officer of UTEK Corporation.
Through its technology acquisition alliances, UTEK assists companies in enhancing their new product pipeline with the acquisition of proprietary intellectual capital from universities and laboratory research centers. Technology acquisition alliances are generally cancelable by either party with thirty days advance written notice.
About Xcelience, Inc.
Xcelience is a Tampa-based laboratory providing high quality drug development. The company brings together the industry’s most experienced and talented scientists, efficiently moving compounds through the research and development stages to market. Since 1997, the lab has been developing formulations for clients throughout the country. Xcelience’s unique corporate structure creates project teams which work intensively with each client, becoming an extension of their own organization into the Xcelience lab. For more information about Xcelience, please visit its website at www.xcelience.com.
About UTEK Corporation
UTEK® is a specialty finance company focused on technology transfer. UTEK’s services enable companies to acquire innovative technologies from universities and research laboratories worldwide. UTEK facilitates the identification and acquisition of external technologies for clients in exchange for their equity securities. This unique process is called U2B®. In addition, UTEK offers companies the tools to search and analyze university intellectual properties. UTEK is a business development company with operations in the United States, United Kingdom and Israel. For more information about UTEK, please visit its website at www.utekcorp.com.
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