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After more than two decades making games, Majesco Entertainment merges with biotech company PolarityTE to leave the gaming industry, the company announced yesterday.
In a press release sent to the media, Majesco describes PolarityTE as a regenerative medicine company that will become “a wholly-owned subsidiary of Majesco.”
After the merger got approved by the board of directors from both companies, Dr. Denver Lough became the new Chief Executive Officer and Chairman at Majesco (that will be renamed PolarityTE), while Dr. Edward Swanson becomes the Chief Operating Officer and Director.
The company will have its headquarter in Salt Lake City.
“We did not leave our resident careers at Johns Hopkins Hospital to merely change biotech — we left to change the future of medicine. This opportunity allows us to disrupt the field with our entirely new proprietary technology platform across a wide variety of tissues so that all patients will eventually be offered a pragmatic method of regenerative wound healing and personalized tissue engineering. Our goals are simple: A superior technology, a superior team and a superior network of world leaders in translational medicine to augment the delivery of autologous products for the regeneration of self,” said Dr. Lough. “We sincerely wish to thank Barry Honig, the Majesco Board of Directors and Dr. Phillip Frost for their confidence in PolarityTE and we promise to not disappoint.”
Majesco will be remembered by gamers for the publication of games such as Psychonauts and Bloodayne, and the making of Cooking Mam, among other titles.
[Source]: Majesco Entertainment (via MarketWired): Majesco Entertainment Inc. and PolarityTE, Inc. Enter Into Merger Agreement.