BDB Pitmans advises Novacyt S.A. on the sale of Clinical Lab to Cambridge Pathology BV
Leading law firm, BDB Pitmans, has advised international specialist in clinical diagnostics, Novacyt S.A., on the sale of its clinical laboratory business, Clinical Lab, to Cambridge Pathology BV. Novacyt is listed on the London Stock Exchange and the value of the deal was £400,000.
Based in Cambridge, Clinical Lab makes up part of the company’s Lab21 business which specialises in molecular biology testing with a focus on oncology and virology. This sale follows a strategic review of Novacyt Group in December 2018, and will enable the company to concentrate on the expansion of its core businesses, Primerdesign and Lab21.
The BDB Pitmans team who advised on the transaction was led by corporate and commercial partner Philip Weaver. His wider team consisted of Michelle Gorman, Daniela Munro and Sarah Potter. Cambridge Pathology BV was advised by Kingsley Napley LLP and Charles Russell Speechlys LLP on the sale and revision of security arrangements respectively.
Andrew Smith, managing partner at BDB Pitmans, comments:
‘BDB Pitmans is pleased to have supported Novacyt S.A. on the sale of Clinical Lab to Cambridge Pathology BV as Novacyt looks to focus and streamline its operations moving forward. Our corporate and commercial team in Reading worked diligently to achieve the desired outcome for this innovative laboratory.’
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