Brief: Biosynex Announces Acquisition Of A 37.17% Stake In Procisedx

Biosynex SA

20/07/2020 06:36

July 20 (Reuters) - Biosynex SA  ALBIO.PA :
    * ACQUISITION OF A STRATEGIC STAKE IN THE AMERICAN COMPANY PROCISEDX AND
DISTRIBUTION OF THE GASTROENTEROLOGY RANGE IN FRANCE AND SWITZERLAND
    * NESTLE GROUP WILL REMAIN A SIGNIFICANT MINORITY SHAREHOLDER
    * ANNOUNCES ACQUISITION OF A 37.17% STAKE IN PROCISEDX
    * BIOSYNEX WILL CONSOLIDATE THIS SUBSIDIARY USING THE EQUITY METHOD FROM THE
SECOND HALF OF 2020
    * INTELLECTUAL PROPERTY INITIALLY OWNED BY THE NESTLÉ GROUP HAS BEEN
TRANSFERRED
TO PROCISEDX UNDER AN EXCLUSIVE LICENSE AGREEMENT
    * PROCISEDX STARTED FDA APPROVAL PROCEDURES FOR THIS RANGE WITH A TARGET TO
MARKET
IN THE US IN 2022
    * FULL FINANCIAL BENEFITS EXPECTED IN COMING WEEKS FROM AGREEMENTS FOR
BIOSYNEX
COVID-19 TEST AND FROM 2021 FOR PROCISEDX'S GASTROENTEROLOGY LINE

Source text for Eikon:  ID:nNDLbprvQZ 
Further company coverage:  ALBIO.PA 

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