National Stem Cell to merge with Azurel

National Stem Cell, a firm focused on the advancement of regenerative medicines, says that it has entered into a letter of intent to merge with fellow New York, USA-based Azurel, a cosmetics firm with proprietary brands including Privilege and Benendre. Upon the completion of the merger, NSC shareholders will own more than 90% of the outstanding shares of the surviving entity which will be called National Stem Cell Inc.

The letter of intent is a non-binding indication of the parties plan to merge and is subject to further due diligence by both parties. They expect to enter into a definitive merger agreement within 60 business days. No financial details have been released at this point.