Canada-based Fero Industries, Inc. has entered into an Interim Agreement with Pyro Pharmaceuticals, Inc. of Long Beach California.

The Definitive Agreement will provide for the exchange of each of the Company's common stock, with Fero remaining as the parent entity and Pyro a wholly owned subsidiary.

An official release stated that, a definitive agreement will be entered into as soon as possible but no later than January 15, 2009, with closing to occur on or before February
27, 2009 and will be subject to certain terms and conditions.

Pyro Pharmaceuticals, Inc. is engaged in the business of developing therapeutics against multi-drug resistant infectious microorganisms. The company's focus is on diseases caused by bacteria, yeast, fungi, and amitochondrial protists in which antibiotic resistance has become a significant factor in the treatment of these diseases, and where alternative therapies are needed due to the inadequacies of current treatments, some of which are due to pharmacogenomic issues.

Fero Industries, Inc., a development stage company, focuses on developing an online marketplace for oil and gas products, equipment, and related items.