By Dean Seal
Altamira Therapeutics has agreed to sell a 51% stake in its subsidiary Altamira Medica AG, which produces the allergy spray Bentrio, to a Swiss private equity investor.
The biopharmaceutical company said Friday that the sale is part of its strategic repositioning around RNA delivery technology.
Altamira is set to receive more than 2 million Swiss francs, or about $2.3 million, and will retain 49% of the subsidiary. The company also will be entitled to about a quarter of the unit’s future licensing income.
The Bentrio maker will continue to operate under its current name and with its current staff.
The deal is expected to close on Nov. 21.
Write to Dean Seal at dean.seal@wsj.com
Read the full article here
