Knobias Clip Report (01-26-20009) GORX
Submitted By Knobias ClipReport
GORX: To Sell Majority Majority Stake of Ovarian Cancer Business to Trident
By Fain Hughes, fhughes@knobias.com
GeoPharma, Inc. (GORX) announced the signing of an agreement with Trident Biotech, Inc. for the purchase of a majority stake in the Company’s Ovarian Cancer business. GeoPharma receives $2.5 million in cash and notes and will maintain forty percent ownership in the business under the terms of the agreement.
“This transaction strengthens our financial and competitive position in our core business and eases the burden of funding our ovarian cancer business segment while allowing us to remain a significant partner in a technology we are extremely passionate about,” stated Company CEO Mihir Taneja.
Visit 1800blogger to see all of our industry leading blogs.
