Green Cross Holdings Corporation completed the acquisition of Highlander Factory, Inc. from New Jersey Innovation Institute Inc.
Green Cross Holdings Corporation (KOSE:A005250) completed the acquisition of Highlander Factory, Inc. from New Jersey Innovation Institute Inc. on May 16, 2022. Moving forward BioCentriq will operate in a mode similar to other GC companies, with each maintaining its individual culture and identity while sharing best practices. Hartounian, Senior Vice President and General Manager of BioCentriq, will become the Chief Executive Officer of BioCentriq upon the closing of the transaction. He will retain his position as affiliated faculty at NJIT. The terms of the deal and its closing were approved recently by the NJII Board of Directors. The proceeds of the transaction will be held by NJII and redeployed to continue growing an innovation and entrepreneurship ecosystem that supports the State of New Jersey and its regional economy. Andrew Gilbert of DLA Piper LLP (US) acted as legal advisor to New Jersey Innovation Institute Inc.