iX Biopharma to sell Chemical Analysis unit for A$12.5m

Singapore

IX Biopharma has entered into an agreement with independent third party Eurofins Australia New Zealand Holding for the proposed disposal of its entire stake in its wholly owned subsidiary, Chemical Analysis, for A$12.5 million (S$12 million) in cash.

The company expects to receive net proceeds of about S$11.75 million from the sale, after deducting estimated expenses of about S$250,000.