PROVO, Utah, Dec. 14, 2011 /PRNewswire/ -- Nu Skin Enterprises, Inc. (NYSE: NUS) today announced that it has closed the transaction to acquire LifeGen Technologies, LLC, a genomics company based in Madison, Wisconsin for $11.7 million. The Nu Skin purchase will result in the transfer of substantially all of the assets of LifeGen to Nu Skin, including its proprietary tissue bank and gene expression database, patents and other intellectual property related to anti-aging gene research. The company also initiated new research and development contracts, consulting and non-competition agreements with LifeGen co-founders, Richard Weindruch, Ph.D., and Tomas Prolla, Ph.D., who will both manage and provide scientific leadership at the Madison-based research facility and continue to serve on the Nu Skin Anti-aging Scientific Advisory Board.
"We are pleased to have completed the acquisition of LifeGen," said Dr. Joseph Chang, Nu Skin's chief scientific officer. "We believe the acquisition significantly enhances Nu Skin's position as a leader in the anti-aging industry, providing Nu Skin exclusive ownership of LifeGen's substantial intellectual property encompassing more than 30 years of breakthrough scientific study on the genetic sources of aging and a proprietary algorithm that identifies important age-related genes. The global anti-aging market is expected to grow at a rapid rate in the coming years. By bringing the proprietary LifeGen scientific assets and expertise in house, we believe we are in a unique position to develop a steady stream of our super-class of anti-aging products that help people live younger, longer."
The company initiated its scientific collaboration with LifeGen in 2009. Since that time, LifeGen's proprietary genetic science has enhanced the development of Nu Skin's next-generation super-class of anti-aging products, including the company's most recent introduction of the ageLOC® R2 nutritional supplement.
"We are pleased to become a part of the Nu Skin family as we continue to break new ground in understanding the relationship between gene activity and nutritional control of the aging process," said Weindruch.
Prolla added, "We believe that through this exclusive relationship between LifeGen and Nu Skin is synergistic and will drive the launch of science-based products that effectively slow the effects of aging."
"We are already feeling the positive impact of LifeGen's proprietary databases as we develop ageLOC products for introduction in 2013," continued Chang. "Together, we are discovering new genetic insights for weight loss and overall longevity that have unique application for anti-aging solutions. Overall, I believe that the acquisition of LifeGen cements our ability to truly create the most innovative products in the anti-aging category for many years to come."
About LifeGen Technologies
The mission of LifeGen Technologies has been to discover the genetic basis of the aging process with the ultimate goal of increasing a healthy life span. LifeGen's patent for the use of aging supermakers for measuring the progression of the aging process at the molecular level is a key component of the intellectual property acquired by Nu Skin.
About Nu Skin Enterprises, Inc.
Nu Skin Enterprises, Inc. demonstrates its tradition of innovation through its comprehensive anti-aging product portfolio, independent business opportunity and corporate social responsibility initiatives. The company's scientific leadership in both skin care and nutrition has established Nu Skin as a premier anti-aging company, evidenced in its unique ageLOC™ science that addresses aging at its source. The company's anti-aging products feature the new ageLOC suite of products including the ageLOC R2 nutritional supplement, ageLOC Galvanic Spa System and Galvanic Body Spa™, as well as the ageLOC Transformation daily skin care system. A global direct selling company, Nu Skin operates in 52 markets worldwide and has more than 825,000 independent distributors. Nu Skin is traded on the New York Stock Exchange under the symbol "NUS." More information is available at http://www.nuskin.com.
Please note: This press release contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934 that represent the company's current expectations and beliefs regarding the company's acquisition of substantially all the assets of LifeGen Technologies, LLC; the impact of the acquisition on the company's research and product development efforts; and the company's plans and strategies. These forward-looking statements and related assumptions are based on current information and expectations regarding the acquisition, and are subject to risks and uncertainties, including the risk that the acquisition will not impact the company's research and product development efforts as currently anticipated; and risks related to the company's ability to effectively integrate and utilize the acquired assets and the founders of LifeGen Technologies, LLC. These forward-looking statements are further qualified by the risks discussed in company filings with the U.S. Securities and Exchange Commission, which risks could cause actual results and outcomes to differ materially from expected results and any forward-looking statements or views expressed herein. The company undertakes no obligation to publicly update any forward-looking statement contained in this press release, whether as a result of new information, future developments or otherwise, except as may be required by law.
SOURCE Nu Skin Enterprises, Inc.