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HST Global Pulls Out Of Bryomed Acquisition

mergers_acquisitions_225px-w_bwJuly 13, 2009 (FinancialWire) — HST Global, Inc. (OTCBB: HSTC) (Current Market Cap: US$ 19.97 Mil.) said it has terminated a letter of intent agreement to purchase Bryomed International, Inc., a Central American a developer of alternative cancer treatments.

The acquisition involved a line of immunotherapy products meant to be used as an adjunct therapy before, during and after traditional cancer treatments. The proposed 20 million dollar cash, stock and royalty agreement was meant to secure the exclusive worldwide rights to ten existing and all future immunotherapy products from the firm.

HST Global said it will also discontinue its efforts to purchase the worldwide rights for the manufacturing and distribution of Salicinium, a cancer drug.

In a statement, HST said it “looks forward to maintaining the relationship between the parties” and will continue to pursue a vendor agreement as Bryomed continues the registration process of its products with the FDA.

HST CEO Ron Howell said, “With the current economic climate, we will dedicate all of our company resources to the development and expansion of our distribution through our health and wellness Centers.”

Hampton, Virginia-based HST Global is a biotechnology health and wellness company that is developing and or acquiring a network of wellness centers that are primarily focused on the immunotherapy and alternative treatment of late stage cancer.

The company also plans to acquire innovative products for the treatment of late stage cancer.

On July 9, the company said it was executing a joint venture agreement with Dalham, an affiliate company of The Health Network, to capitalize on several years of research and development initiated by The Health Network for the establishment of technologies associated with an individual’s mood, memory and mind development. These include an “all natural” energy drink.

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