(Alliance News) - A consortium of life science investment firms is close to entering exclusive talks to buy GBP500 million of healthcare assets held by troubled Woodford Investment Management, Sky News reported on Monday.
WG Partners - a consortium including pharmaceuticals investor Ricanto - is at the front of the pack to buy around 15 positions held by WIM. WG Partners is believed to be close to entering a period of exclusivity to finalise a deal.
Other bidders included healthcare-focused venture fund Rosetta Capital Ltd and hedge fund Omega.
The potential offer follows former star fund manager Neil Woodford announcing he was shutting down his firm amidst a deepening crisis around the company. In October, Link Financial - the supervisor of WIM - announced it was replacing the fund firm as the manager of its equity income fund.
According to one insider, the assets are believed to be valued at around GBP500 million. This includes holdings in listed firms such as 4D Pharma PLC, Mereo Biopharma PLC, Arix Bioscience PLC and Verseon Corp.
https://news.sky.com/story/consortium-in-talks-to-buy-163500m-woodford-portfolio-11853985
By Ahren Lester; ahrenlester@alliancenews.com
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