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Innovation

Xcelerate Inc. pursues merger of Greenville pharma company

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Mauldin’s Xcelerate Inc. signed a non-binding letter of intent to pursue a merger with Greenvills’s HS Pharmaceuticals, according to a news release.

The letter of intent allows Xcelerate to begin reviewing HS Pharmaceuticals’ operations, structure and intellectual property.

“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,” CEO Michael F. O’Shea said in the release. “The potential consolidation with HS Pharmaceuticals is further evidence that Xcelerate seeks to continue making headway in finding innovative acquisitions within the patent/engineering world. We remain focused on joining early-stage medical technology companies in a setting of controlled clinical care where these new developments can be trialed, tested and applied."

Over the past 14 years, HS Pharmaceuticals has developed a platform of technologies centered around patented and patent pending silicate particle research, the release said. The company’s work, in partnership with universities and research facilities, has led to developments in health care in areas such as immunotherapy alternatives, topical therapies to combat infection and bacteria, as well as bone regeneration, according to the release.

Reach Molly Hulsey at 864-720-1223.

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