BP (British Petroleum) looks for ways to divest Vysis:
This article was originally published in Clinica
Executive Summary
UK oil company British Petroleum (BP) announced last week that it would like to dispose of its 65% share in Vysis that it inherited when it acquired the Amoco oil business in 1998. The company said that the DNA diagnostic company was not strategic and that it was looking for the best way to dispose of some or all of its holding and was considering selling privately, a further public offering or even a merger. BP has set no time limit on the transaction.
You may also be interested in...
News We’re Watching: AI Safety Partnership; Boston Scientific Recalls; New Cancer, STI Tests; VR
This week, the US and UK announced a partnership to promote AI safety. Boston Scientific recalls embolic agent. LumiCell received FDA approval for its imaging agent to detect residual cancer. Scout receives an award to develop an STI test; and Osso VR leverages the Apple Vision Pro for VR medical training.
Finance Watch: Canaan, Regeneron Reveal New Funds For Start-Ups
Private Company Edition: Regeneron launched a $500m venture fund and Canaan added $100m, bringing the venture firm’s recent total to $1bn-plus. Also, incubators plan to grow over the next decade and in recent financings Avenzo raised $150m and Nvelop launched with $100m.
Pink Sheet Podcast: Leqembi Spending, Woodcock’s Next Act, Pneumococcal Vaccine Development
Pink Sheet editors discuss Medicare spending projections for the Alzheimer’s treatment Leqembi, Janet Woodcock’s new post-FDA role, and ongoing preparations for new pneumococcal vaccines that will reach the market soon.