UK's Avacta shines on sale of pathology solutions unit

Avacta

07/03/2025 08:40

** Shares of British life sciences company Avacta AVCT.L  up as much 10% to 39.94p

** Co to sell pathology solutions unit Launch Diagnostics for 12.9 million pounds ($16 million) in an effort to become pure-play biotechnology company

** Subsidiary of Spain-based Palex Healthcare Group, Duomed Belgium NV, to buy unit

** Co expects cash runway to extend into Q1 2026 post divestment

** Up to Thursday's close, stock fell 25.84% so far this year

($1 = 0.7748 pounds)

 (
 Reporting by Simone Lobo in Bengaluru)

 ((Simone.Lobo@thomsonreuters.com; +919920570373;))