Skyline Medical Signs Binding Letter of Intent for Merger Transaction with CytoBioscience
SKYLINE MEDICAL INC COMMON (SKLN)
NASDAQ:AMEX Investor Relations:
investors.skylinemedical.com/investor-relations
Company Research
Source: GlobeNewswire
MINNEAPOLIS, Aug. 01, 2017 (GLOBE NEWSWIRE) -- Skyline Medical Inc. (NASDAQ:SKLN) (“Skyline” or “the Company”), producer of the FDA-approved STREAMWAY® System for automated, direct-to-drain medical fluid disposal, announces the signing of a binding letter of intent for a merger transaction with CytoBioscience, a privately held biomedical company. The letter of intent is subject to entering into a definitive merger agreement. CytoBioscience creates and manufactures devices used in human cell research focused on new therapeutic drug development and has a well-known scientific and technical staff, collaborative partnerships with leading pharmaceutical companies and strategic alliances with key groups and academic institutions. CytoBioscience has reported a current backlog of $6 million in orders and anticipated contract research work. Its ion channel instrument was selected by the FDA for its own cardiac safety testing on preclinical new drug compounds. Cytobioscience’s board and mana
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