The early-stage medical technology company has presented some solid growth opportunities, and this company’s mission is to find and acquire these innovative companies.
Xcelerate, Inc. (OTCPK: XCRT) signed a Definitive Memorandum of Understanding with HS Pharmaceuticals, LLC of Greenville, South Caroline, whereby Xcelerate will acquire 100% of the membership interests in HS Pharmaceuticals, LLC as well as a 51% interest in HS Cosmetics, Inc.
Xcelerate was designed to bridge the divide between initial non-medical engineering advancements and its application to clinical care. HS Pharmaceuticals is an early stage drug development company focusing on innovative immunotherapies for cancer treatment.
Shares were trading up over 9% in late-morning trade on the news, approaching their all-time high.