Posted at 11:51 a.m., Tuesday, June 18, 2002
Aquasearch to change name
Advertiser Staff
Big Island biotechnology firm Aquasearch Inc. will change its name to Mera Pharmaceuticals and make the California investor who pumped in money last year its chief executive, the company said.The U.S. Bankruptcy Court in Hawai'i yesterday confirmed those steps as part of the plan of reorganization submitted by Aquasearch and approved by its creditors and shareholders, the company said in a statement.
Richard Propper, a former Harvard medical researcher and longtime Silicon Valley venture investor who agreed to lend $300,000 to Aquasearch last year, will serve as the new executive chairman of the board of directors, the company said.
Aquasearch, which makes the nutraceutical AstaFactor, filed for Chapter 11 bankruptcy late last year.
