ALNE Signs Letter of Intent to Acquire BioTechPharma

Alternative Energy & Environmental Solutions said Monday that it has signed a letter of intent to acquire Arlington, Va.-based BioTechPharma. The company produces drug monitoring and diagnostic products that enable on-site collection and testing to identify infectious diseases, drug and alcohol use and other health issues.

The proposed deal represents ALNE’s first venture into the healthcare field. The Chapel Hill, N.C., company was formed in 2010 to market a biotechnology product that uses organic microbes to more efficiently extract coal bed methane in U.S. mines.

Once completed, BioTechPharma will become a wholly owned subsidiary of ALNE. BioTechPharma’s management team will stay on and be responsible for the company’s day-to-day operations, according to ALNE.

BioTechPharma’s proprietary nanotechnology development platform focuses on diagnostics for cardiac, lipid, oncologic, metabolic, diabetic and genetic diseases, as well as nutritional and environmental health issues. — Kellen Owings

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