RCP Therapeutics has announced the signing of a letter of intent for Firstpoint Biotech to acquire a majority equity interest in the company.
A new company, Firstpoint RCP Therapeutics Inc, will be formed through the transaction.
Under the terms of the agreement, Firstpoint Biotech will carry out 60 days of due diligence prior to final closing documents being completed.
Firstpoint RCP Therapeutics plans to spin out its cosmeceutical technologies into a separate company, taking initial ownership of all shares.
This company will target the over-the-counter cosmeceutical industry, spas, estheticians and the dermatological and plastic surgery markets.
