PolyNovo trade agreed
Thursday, 02 October, 2008
Xceed Capital [ASX: XCD] has agreed to sell its 64 per cent stake in PolyNovo Biomaterials to Metabolic Pharmaceuticals [ASX: MBP].
The sale has been on the cards for some time, but both parties have finally signed off on the deal.
Under the arrangement Xceed, an investment company, will trade Metabolic its stake in return for 1.5 MBP shares for every PolyNovo share Xceed owns.
The deal must still be approved by both Xceed and Metabolic shareholders. Xceed is holding a shareholder's meeting to discuss the sale in November.
Saliva-based biosensor could improve heart failure detection
Scientists have created a biosensor that can rapidly detect the heart failure biomarker S100A7 in...
Melanoma-causing mutation can lie dormant in healthy skin
Researchers found many examples of the mutation in normal skin, including skin next to a mole and...
Antibiotic for drug-resistant bacteria found in plain sight
The antibiotic in question is an intermediate chemical in the natural process that produces the...
