Viaspace Inc. has announced its intent to acquire luxury cosmetics company based in Denver, Colorado, Elite Therapeutics. The all-stock acquisition is expected to close during the first quarter, 2015.

Dr. Kevin Schewe, chairman, Viaspace, and the founder / majority shareholder of Elite Therapeutics commented:

“Elite Therapeutics was founded in 2007 as Bad Love Cosmetics Company, LLC and began with results-driven, medical-grade cosmetics in late 2010. After four full years, the company is debt-free, has grown steadily at 50% or more per year and management believes the business’ revenue trajectory will grow further in 2015 and possibly become profitable as well.”

Viaspace is new to beauty – the company grows renewable Giant King Grass as a low-carbon fuel for clean electricity generation; for environmentally friendly energy pellets; and as a feedstock for bio-methane production and for green cellulosic biofuels, biochemicals and biomaterials.