La Jolla’s Innovus Pharmaceuticals Inc., a commercial-stage drug company that makes over-the-counter medicine, has acquired Austin, Texas-based Beyond Human for $630,000 in cash.
The acquisition landed Innovus with Beyond Human’s testosterone booster supplements, including two products (Beyond T Human and Human Growth Agent HGA) that generated $2.2 million in revenue and $400,000 in profit last year, according to an Innovus statement.
Innovus, an $11 million public company, said it expects to grow those figures to over $3 million in revenue and $600,000 in net profit over the next few years. It will do this by selling the Beyond Human products through its numerous international distributors. The company also plans on using Beyond Human’s online platform and database of thousands of customers to cross sell its existing, complementary products.
Innovus announced last week that it intends to uplist from the OTC MKTS to the NYSE MKT, formerly known as the American Stock Exchange.