NextGen Group PLC has sold its non core electrophoresis business to Sigma Aldrich Corporation, St. Louis, Missouri for $0.56m in cash, of which $0.179m was assets, and an 8% royalty on global sales for three years payable in cash.
NextGen has sold the rights, design, and expertise for the electrophoresis technology and retains the right to use this technology in its fee-for-service biomarker business and for its own in-house research.
In 2007 the electrophoresis business unit recognized a total revenue of £171,931 ($257,896 at 1.5 USD:GBP) with a gross margin of 64%.
This disposal follows the divestiture of the non core ‘gene to protein’ automation and software business announced on 5 December 2008 and completes the strategic realignment of NextGen.
NextGen’s strategic plan, announced in April 2008, was to divest or wind down its software and instrumentation UK-based businesses and to focus all resources including the profit realised from these transactions on growing the biomarker services business.
Release Date: March 3, 2009
Source: NextGen Sciences
