Nice RNS27 Dec 2019 07:57
Graham Mullis, Group CEO of Novacyt, commented:
"I am pleased to announce the completion of the sale of NOVAprep®, which significantly streamlines our operations and strengthens our financial position. The sales of the Clinical Lab and the NOVAprep® assets could eventually generate in excess of €2.2m cash during the next five years through a combination of purchase consideration, royalties and the operational cash inflow generated in the second half of 2019. I am particularly pleased to create this value for the benefit of the Company whilst removing the loss-making Clinical Lab and NOVAprep® assets and enhancing the future profitability of the remaining core businesses.