Interleukin Genetics buys Alan James Group

Interleukin Genetics Inc., based in Waltham, said today that it has bought Alan James Group LLC, a consumer healthcare-products management company.

Interleukin paid $7 million in cash and $500,000 in new stock. In addition, if certain revenue milestones are reached by Alan James Group between 2007 and 2009, Interleukin could pay up to another $1.5 million in cash and about 1.6 million shares of stock worth $9.25 million.

In connection with the acquisition, Alticor Inc., which owns a majority interest in Interleukin, will provide $30 million in new financing.

Tim Richerson, who was president of Alan James Group, has been named chief executive of Interleukin. Dr. Kenneth Kornman, previously Interleukin's president and chief executive, will retain his roles of president and chief scientific officer, and will also serve on the Interleukin board of directors.

“This acquisition provides Interleukin with new products and sales and marketing leadership in the rapidly expanding consumer health segment,” said Kornman, president and chief scientific officer of Interleukin. “Alan James has a strong track record of innovation and marketing in the area of preventive therapeutics."
(By Mark Pothier, Globe staff)