Poland's Selvita to split into two listed companies
Poland-based Selvita (WSE: SLV), a clinical stage company engaged in the research and development of novel cancer therapies as well as provision of drug discovery and development services, today announced that it plans to separate into two companies.
News of the decision sent shares of Selvita, Poland largest biotech company, up as much as 5.5%, before settling for a 3.95% rise to 60.50 zloty by close.
One company will focus on development of small molecule therapeutics in oncology and the other will provide contract research services. Each company will build upon capabilities that have been integral to the Company since the founding of Selvita in 2007. Both companies will be publicly listed on the Warsaw Stock Exchange.
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