Houston-based Oncolin Therapeutics Inc.'s board has set a new strategic direction for the company to focus on acquiring and developing assets that are associated with renewable and traditional energy resources through its subsidiary, New EnerSource.
New EnerSource will focus on renewable energy projects such as wind and solar developments, as well as traditional resources plays, with the goal of obtaining revenue-producing assets in the near term.
The company also recently announced cost-cutting measures, which included a reduction in its ownership in Intertech Bio in exchange for the assumption of debt- and future-related expenses.
SOURCE: Oncolin Therapeutics Inc.
