Emergent BioSolutions to spin-off Biosciences business
US biopharma company Emergent BioSolutions (NYSE: EBS) says it will pursue a tax-free spin-off of the company's Biosciences business into a separate, stand-alone publicly-traded company.
The spin-off is expected to create two independent public companies with distinct strategic plans, growth strategies, and operational and development priorities. The company's stock jumped to $34.50, its 52-week high, after the markets opened.
The new Biosciences company, to be named at a later date, will focus on providing novel oncology and hematology therapeutics to meaningfully improve patients' lives. The core technology of the Biosciences company will be its ADAPTIR platform applied to immuno-oncology.
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