M&As this week: V Clinbio, Proteomics, Devonian Health Group

9th February 2018 (Last Updated February 9th, 2018 00:00)

V Clinbio LLC has purchased 49.98% equity stake in Cellix Bio Pvt Ltd.

V Clinbio LLC has purchased 49.98% equity stake in Cellix Bio Pvt Ltd.

V Clinbio is a biopharmaceutical company, while Cellix Bio is a drug development organisation. Both companies are based in India.

The acquisition will enable V Clinbio to develop Synergix, a transformative pro-drug technology platform.

Medical technology company Proteomics International Laboratories Ltd has agreed to purchase 10% stake in drug development support services provider CPR Pharma Services Pty Ltd (CPR).

Proteomics International will issue four million fully paid ordinary shares for 10% of the fully diluted issued share capital of CPR, as part of the transaction.

The acquirer company has simultaneously entered a memorandum agreement with CPR to provide commercial opportunities for its Promarker technology.

"Devonian will acquire all the shares of Altius in exchange for 8,403,361 units of Devonia priced at $1.19 per subordinate share."

The acquisition is scheduled to be complete by 5 March 2018 upon receiving approval from CPR shareholders.

Devonian Health Group Inc has agreed to purchase the entire issued and outstanding shares of Altius Healthcare Inc.

Devonian is a Canadian pharmaceutical company, while Altius is involved in the manufacturing, marketing, and distribution of branded and generic medicines.

Devonian will acquire all the shares of Altius in exchange for 8,403,361 units of Devonia priced at $1.19 per subordinate share.

Scheduled to be complete by March 2018, the acquisition will enable Devonian to improve its sales and marketing bench strength.