In Latest Twist, Commonwealth Biotechnologies Offers to Buy Tripos' Discovery Research Arm for $2.3M

Apr 23, 2007

NEW YORK (GenomeWeb News) — Tripos has entered into a material agreement to sell its Discovery Research business to Commonwealth Biotechnologies, according to a term sheet Tripos filed on April 20 with the US Securities and Exchange Commission.

CBI, a molecular diagnostics company based in Richmond, Va., would pay as much as $2.3 million for the unit, broken down into $500,000 in cash and a total of $1.8 million in base receivables. The term sheet expires in early May.

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