Reaction Biology and Vyant Bio Announce Closing of Definitive Agreement to Acquire U.S. Operations of Vyant Bio, Inc. Subsidiary
MALVERN, PA and CHERRY HILL, NJ, Nov. 03, 2022 (GLOBE NEWSWIRE) -- Reaction Biology Corporation (“Reaction”), an industry-leading provider of drug discovery services, and Vyant Bio, Inc. (“Vyant Bio”) (Nasdaq: VYNT), an innovative biotechnology company reinventing drug discovery for complex neurodevelopmental and neurodegenerative disorders, today announced that the companies have closed on a definitive agreement for Reaction to acquire Vyant Bio’s subsidiary vivoPharm LLC, located in Hershey, Pennsylvania.
- Reaction will retain U.S. personnel from the acquired operations to establish its Hershey, Pennsylvania presence, which includes in vitro and in vivo capabilities.
- After these closing adjustments were reflected, $5.5 million was paid at closing.
- Colliers Securities LLC and Lake Street Capital Markets LLC acted as financial advisors to Vyant Bio in the transaction.
- Vyant Bio, Inc. (Vyant Bio or the Company) (Nasdaq:VYNT), is an innovative biotechnology company focused on identifying unique biological targets and novel and repurposed therapeutics.