Skip to main content
Premium Trial:

Request an Annual Quote

Tripos Closes $26M Sale of Informatics Arm, Still Seeks Research Buyer

NEW YORK (GenomeWeb News) – Tripos said today it has closed the sale of its Discovery Informatics unit to Vector Capital for $26.2 million, and is still seeking a buyer for its Discovery Research business.
 
Vector Capital is a private equity boutique based in San Francisco that specializes in buyouts, spin-outs, and recapitalizations.  
  
Tripos sold the informatics business as part of its plan to liquidate the company, which it said would begin in around six months once it settles all its debts and obligations.
 
The company is still seeking a buyer for its Discovery Research business, but today Tripos gave no assurance it would complete a deal “on satisfactory terms.”
 
Two weeks ago Tripos hinted that members of its management team would consider buying the Discovery Research unit as it appeared that a proposed deal with suitor Provid Pharmaceuticals would not materialize, or if it failed to find another buyer.
 
Provid told Tripos in January it was having trouble securing the roughly $2 million in financing required to swing the deal.
 
In November, Tripos said that after nearly a year of strategic review it had decided to sell the Discovery Research business to become a stand-alone informatics company, unless it could sell that business as well.
 
The company then said it expected to distribute between $6 and $12 million to shareholders after the sale of both businesses and “the completion of certain other transactions.”   
 
Tripos began to review strategic options in November 2005 after Pfizer failed to renew a four-year, $90-million file enrichment agreement the companies had entered in 2001.

Filed under

The Scan

Pig Organ Transplants Considered

The Wall Street Journal reports that the US Food and Drug Administration may soon allow clinical trials that involve transplanting pig organs into humans.

'Poo-Bank' Proposal

Harvard Medical School researchers suggest people should bank stool samples when they are young to transplant when they later develop age-related diseases.

Spurred to Develop Again

New Scientist reports that researchers may have uncovered why about 60 percent of in vitro fertilization embryos stop developing.

Science Papers Examine Breast Milk Cell Populations, Cerebral Cortex Cellular Diversity, Micronesia Population History

In Science this week: unique cell populations found within breast milk, 100 transcriptionally distinct cell populations uncovered in the cerebral cortex, and more.