This article was originally published in The Gray Sheet
In vitro diagnostics firms terminate their Dec. 22 merger agreement. "In response to disappointing test results and its loss of collaborative partner support," Cortech "has substantially reduced its staffing and has effectively discontinued all internal research and development activities" and is "currently evaluating its strategic alternatives," Cortech states. Valued at about $18.7 mil., the acquisition of BioStar would have shifted Cortech's focus toward point-of-care diagnostics ("The Gray Sheet" Jan. 5, I&W-3)
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