Millenia Hope subsidiary acquires Avance Pharma

By Elaine Rigoli

Tampa, Fla., Feb. 17 - Millenia Hope, Inc. announced Friday that its Canadian subsidiary, Millenia Hope Biopharma, has purchased the intellectual property, scientific expertise and research facilities of the former Avance Pharma.

Avance Pharma is a leading bio-research firm in phytomic technology, the commercialization of plant cell cultures.

Avance has spent over $30 million in creating its unique technology, including the world's largest collection of highly purified phyto-chemical fractions to be used in the pharmaceutical, cosmetic and nutraceutical industry, according to a company news release.

Avance Pharma has been the recipient of several research and development grants.

Millenia Hope Biopharma, retaining Avance's research personnel and all of its operating assets and facilities, is working to complete the initial commercialization of several projects with leading multi-national corporations. These projects will produce immediate revenues, milestone payments and future royalties, based on their specific criteria, according to the release.

Millenia Hope is a biopharma company located in Wilmington, Del.

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