This comes after the group saw its 2Q losses widen 11% to $3.6 million after registering lower revenue from its chemical analysis division, from which iX Biopharma prioritised and allocated substantial resources to prepare for the nationwide launch of its Entity product range in 4Q19.
SINGAPORE (Feb 18): iX Biopharma is selling Chemical Analysis, its laboratory testing business in Australia, to Eurofins Australia New Zealand Holding for A$12.5 million ($12 million).
The consideration is about $10.6 million and $10.84 million over the book value and its net tangible asset value (NTA) of the sale shares, and translates to a net gain on disposal of about $10.4 million.
