10.01.03
Vital Living, Phoenix, AZ, has completed a merger with Enhanced Nutriceuticals (ENI), New York, NY, which is a privately held nutraceutical-based drug company development company. As a result of the transaction, SkyePharma, London, U.K., which is a pharmaceutical company focused on drug delivery and a former shareholder in ENI, has become a significant shareholder in Vital Living. In addition, SkyePharma has also made a separate equity investment in Vital Living and has provided the company exclusive rights to market its patented Geomatrix™ oral drug delivery technology and certain other delivery technologies for pharmaceutical applications in China, subject to performance conditions. Lastly, SkyePharma has agreed to the assignment to Vital Living of ENI’s rights to apply Geomatrix technology to nutraceuticals and has extended the term to those rights.