Nascent Biotechnology Inc. was recently purchased by the Venezuela Government and is working hard to find a place for its new plant in Venezuela. The acquisition was done in an arrangement made between the Venezuelan President, Hugo Chavez and the Chinese Government. The President of Venezuela, Mr. Hugo Chavez stated that Nascent’s technology, as well as their expertise, would benefit the people of Venezuela. This company was founded in 1998 and until recently was based in Rockford, IL.
President Chavez stated that he wanted this technology to be accessible to the poor people of Venezuela and hoped that by using it they could improve the standard of living for that country. Nascent Biotechnology was purchased from Lavalife Incorporated by a private investor. During the acquisition process there were layoffs of about forty employees. There is no definite word on whether or not the Venezuela Government will purchase the facility or another business. They are in the early stages of determining that viability.
In previous years, Lavalife had bought the bankruptcies of other companies that failed in their businesses. One of those businesses was the Wabash Valley Chemical Corp., which had received poor financial backing and was shut down. The Wabash Valley plant manufactured paints, polishes, detergents, floor wax and other products. The company never recovered from the poor financial situation and closed its doors. It is unclear if that plant would be open again or not.
The Nascent Biotechnology Inc. facility manager states that they are evaluating the present market and will determine how long the venture will last. The acquisition of the Lavalife brand name and assets by Nascent will help them stay focused on their goals. They say that they are working hard to diversify their offerings and keep up with new technologies. The facility manager says, “Nascent’s strong pipeline and world-class customer service will allow us to continue to increase our market share while providing our customers with the resources they need to successfully compete in today’s market.” The Lavalife brand was bought by Nascent for approximately $12 million and is based in California.
The company’s facility manager, Mark Fagen, says, “Nascent has a solid combination of intellectual property, technology expertise and excellent management team. We believe that this combination will make us a leader in the biotechnology industry. We plan to continue to invest in the company’s research and development efforts to drive continuous growth and innovation in the bio-tech sector.” He went on to say, “Nascent is a perfect partner for our business as it effectively combines our technical know-how with its highly skilled and experienced management team to accelerate growth in the bio-tech market. We look forward to working with Nascent in helping to identify new product ideas and developing the manufacturing process that is essential for our company’s success.”
The Lavalife brand has already signed agreements with several major biotechnology companies including Bioscene, Celogenix, Envirodesic and Life sciences. Mark Fagen, the company’s facility manager adds, “Nascent is a perfect choice for a facility manager looking to partner with a premier biotechnology firm. Our combination of technology expertise and strong management team will allow us to quickly and effectively streamline operations. We strongly believe that the combination of our two strong elements will help us become one of the most trusted names in the industry.”
Fagen went on to say that the Lavalife site is still in the development stage but looks to be “very close” to being ready for launch. He believes it will appeal to a broader audience and create a better website for the company’s facilities. “We believe that when companies use a social networking site like Lavalife, they are more likely to develop positive relationships with their customers and partners. Our goal is to provide the best experience possible for our customers and to create lasting relationships that will grow our business,” he concluded. Nascent Biotech Inc. has not disclosed financial details but according to a Securities and Exchange Commission filing, the company has raised a total of fourteen round funding rounds.
One thing that is clear is that Lavalife is an exciting new platform for company facilities’ managers to use as a marketing tool to connect with their local meet-ups. It also provides facilities managers with a way to showcase their research and development activities and gain visibility online. In the past, most of the company’s facility activities were handled on a strictly organizational level. However, as networking has become more important to business operations, more facility managers are embracing the social media outlets as a way to engage with their communities and gain exposure. One of the major benefits of using Lavalife as a marketing tool is the ability to manage profiles online easily. With over 35 million members worldwide, it is the largest MLM company.
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