Emergent BioSolutions spins out Aptevo as stand-alone company

11 July 2016
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US biotech firm Emergent BioSolutions’ (Nasdaq: EBS) board of directors has approved the spin-off of Aptevo Therapeutics and declared a dividend distribution of one share of Aptevo common stock for every two shares of Emergent common stock outstanding as of the close of business on July 22, 2016, the record date for the distribution.

Emergent, which has just been named as the best-performing company in Maryland by Forbes magazine, expects to complete the distribution of Aptevo common stock to Emergent stockholders on August 1, 2016.

Daniel Abdun-Nabi, president and chief executive of Emergent BioSolutions, said: “This announcement marks an important milestone towards the creation of two stand-alone, publicly-traded companies that share a strong foundation of providing healthcare products that protect and enhance lives. Emergent and Aptevo are excited about the opportunities awaiting both companies and their respective stockholders following completion of the spin-off.”

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