BioForce Nanosciences Becomes Publicly Traded Company
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BioForce Nanosciences, Inc. has become a publicly traded company following its recently announced acquisition by Silver River Ventures, Inc., now known as BioForce Nanosciences Holdings, Inc. BioForce will operate as the wholly owned subsidiary of BFNH.
The agreement was contingent upon the receipt of $2.5 million in escrow funds prior to the finalization of the acquisition process. Opportunities remain for additional private placement capital and a secondary offering is anticipated to occur in late 2006.
"BioForce has followed the tried and true model of beginning with a vision, then working for funding through grants, seed capital and other sources to fund research on nascent technology," said Dr. Henderson, who continues as Chief Executive Officer and Chief Science Officer of BioForce.
"After 11 years, we are now reaching our long-term goal of bringing the first wave of new and innovative products to market."
"As a public company, we have new responsibilities, but also access to the advantages that come from the liquidity of public market," Dr. Henderson said.
"We will continue working to leverage these new opportunities for future growth of the company."
Silver River Ventures President Ed Cowle said, "We are very pleased to be a part of this innovative bionanotechnology company. The team at BioForce has developed a strong portfolio of intellectual property and leveraged this value into marketable products."
