Biotech firm review
Glasgow stem cell firm Collagen considers sale option
Testing time: firm is on the block
Collagen Solutions, the Glasgow-based stem cell research company, has put itself up for sale and has confirmed it is in discussions with a number of parties.
The announcement follows the receipt of interest in the company and it has decided to conduct a formal review of the various strategic options available to maximise value for shareholders.
These include the potential sale of the company or the sale of one or more of its assets. To help in the discussions with interested parties the company has started a “formal sale process” as set out by The Takeover Code.
The board has appointed England & Company and Goodbody Stockbrokers as joint financial advisers.
Following this announcement, the company is now considered to be in an “offer period” as defined in the Takeover Code.
A deadline of 15 May has been set for indications of interest.
A trading update with preliminary year-end revenue and cash balances will be published next week.