Belgian radiopharmaceutical firm Ion Beam Applications (IBA) plans to expand its stake in French biomedical technology company CIS Bio International to own 100% of the company.
IBA currently owns 20% of CIS Bio, with the rest of the company owned by IRE (Institut National des RadioƩlƩments) of Fleurus, Belgium. IBA and IRE bought their stakes in CIS Bio from German pharmaceutical company Schering (now Bayer Schering Pharma of Berlin) in 1996.
Terms of the buyout are under negotiation and should be finalized in the first half of 2008, Louvain-la-Neuve-based IBA said. The price is expected to be 20 million euros ($27.7 million), to be paid in cash and IBA shares.
By AuntMinnie.com staff writers
September 14, 2007
Related Reading
IBA buries proton hatchet with Optivus, Loma Linda, August 21, 2007
IBA to equip fourth U.S. proton therapy center, July 25, 2007
IBA gets OK for U.K. PET facility, July 3, 2007
IBA opens Beijing office, June 18, 2007
IBA begins European I-124 shipments, June 4, 2007
Copyright Ā© 2007 AuntMinnie.com
