Brief: Bioton sells 50 pct stake in MJ Bioton Life Sciences Limited

Bioton SA

31/08/2016 08:08

Aug 31(Reuters) - Bioton SA  BIOP.WA : 
    * Said on Tuesday it signed an agreement with Marvel 
Bioscience Limited (MBS) for sale of 50 pct stake in MJ Bioton 
Life Sciences Limited for consideration of $6 million 
    * MJ Bioton Life Sciences Limited is owner of MJ Biopharm 
Pvt Limited 
    * Signed agreements terminating the investmnet agreements 
siged on Oct. 3, 2017 concerning, among others, acquisition of 
50 pct stake in  MJ Bioton Life Sciences Limited and acquisition 
by  MJ Bioton Life Sciences Limited of 100 pct in Marvel Life 
Sciences Limited  
    * Signed profits sharing agreement with Marvel Bioscience 
Limited, J.M. Shah, Marvel Overseas Investments Limited, Marvel 
Life Sciences Limited, MJ Bioton Life Sciences Limited, and 
Marvel Bioscience FZE concerning the profits under the deal  
    * Under the profits sharing agreement, the company will 
receive 50 pct of profits received by Marvel Life Sciences 
Limited or Marvel Bioscience FZE from sales of insulin in case 
of registration of the product in the EU 
    * Under the profits sharing agreement, the company will 
receive 50 pct of profits received by MBS, form sales of 
recombinant human proteins, among others 
 
 
     
 Source text for Eikon:  urn:newsml:reuters.com:*:nEM3057487 
     
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