Innogenetics announces the intention to restructure its subsidiary GENimmune
Advertisement
Last year, Innogenetics decided to focus on the development and sales of diagnostic products, and GENimmune N.V. was incorporated as a fully owned subsidiary. GENimmune obtained assets of Innogenetics in the field of drug development. The strategy of Innogenetics is to focus solely on diagnostics. In this respect, Innogenetics announced the intention to restructure its subsidiary GENimmune.
GENimmune focuses on the development of novel immune therapeutics, supported by a GMP bio-manufacturing unit. Innogenetics has decided to stop its investments in the development of its therapeutics subsidiary. This will allow it to focus its resources on the successful implementation of its diagnostics strategy. As a consequence, the intention was announced to restructure the GENimmune activities. The contract manufacturing activities in its bio-manufacturing unit will continue. This intention confirms Innogenetics long term strategy and focus towards diagnostics.
Christiaan De Wilde, CEO Innogenetics: "This step was taken after careful consideration. The focus of Innogenetics on diagnostics and its financial situation are two important triggers. It makes clear that Innogenetics wants to prepare itself for its future as a profitable diagnostics company."
Most read news
Organizations
Other news from the department business & finance
Get the life science industry in your inbox
By submitting this form you agree that LUMITOS AG will send you the newsletter(s) selected above by email. Your data will not be passed on to third parties. Your data will be stored and processed in accordance with our data protection regulations. LUMITOS may contact you by email for the purpose of advertising or market and opinion surveys. You can revoke your consent at any time without giving reasons to LUMITOS AG, Ernst-Augustin-Str. 2, 12489 Berlin, Germany or by e-mail at revoke@lumitos.com with effect for the future. In addition, each email contains a link to unsubscribe from the corresponding newsletter.
Most read news
More news from our other portals
See the theme worlds for related content
Last viewed contents
A company with CSIC technology to develop graphene transistors to treat neurological diseases - Inbrain Neuroelectronics will manufacture devices that will improve the decoding of brain signals.
Bayer partners with innovative hormone monitoring device start-up - Funding to advance early-stage research efforts
Innovative device allows 3-D imaging of the breast with less radiation
Immune System Therapeutics completes $2.6 million placement
Eurofins expands its footprint in Asia with the acquisition of Lab Frontier in South Korea
Inimex Raises US $22 Million in the Fight Against Antibiotic Resistance
Mérieux Alliance Becomes Institut Mérieux - Alain Mérieux Confirms the Institute';s Commitment to Meeting new Medical and Public Health Challenges
Embion Technologies SA - Lausanne, Switzerland
DiaTech Srl - Jesi, Italy
GMS Gaswechsel-Messsysteme GmbH - Luckenwalde, Germany