Business
Replacement: Cash sale of CDMO operations
Replacement: Cash sale of CDMO operations.
About this update from Venture Life Group Plc
[{"type":"text","content":"\n\nThe following amendment has been made to the Cash sale of CDMO operations announcement released on 12 May 2025 at 07:00 under RNS No 2336I.\nReference to \"The Riverside Group\" has been corrected to \"The Riverside Company - a global investment firm\".\nAll other details remain unchanged.\nThe full amended text is shown below.\n \n12 May 2025 \nTHIS ANNOUNCEMENT WAS DEEMED BY THE COMPANY TO CONTAIN INSIDE INFORMATION AS STIPULATED UNDER THE MARKET ABUSE REGULATION (EU) NO. 596/2014 AS IT FORMS PART OF UK DOMESTIC LAW BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018. WITH THE PUBLICATION OF THIS ANNOUNCEMENT, THIS INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.\n \nVENTURE LIFE GROUP PLC\n(\"Venture Life\" or the \"Company\")\nSale of contract development and manufacturing operations and certain non-core products for €62m in cash on a cash free, debt free basis\nOptimisation of business and strategic focus\nNew long-term development and manufacturing agreement\nBoard change\nVenture Life (AIM: VLG), a leader in product innovation, development and commercialisation within the global consumer healthcare sector, announces that it has entered into a binding agreement with BioDue S.p.A (\"Biodue\"), a contract development and manufacturing organisation (\"CDMO\") based in Italy and a portfolio company of The Riverside Company - a global investment firm - for the sale of:\n \n· 100 percent of the issued share capital of Biokosmes SRL (\"Biokosmes\") and of Venture Life Manufacturing AB, the holding company of Kullgren Holdings AB and Rolf Kullgren AB (\"Gnesta\") (collectively the \"CDMO Business\"); and\n· some of the Group's peripheral products[1] (collectively the\" Non-Core Products\" and associated commercial agreements (together with the CDMO Business, the \"Target Assets\")).\n \nfor a consideration of €62.0 million (c.£53.0 million) (the \"Sale\") on a cash free, debt free basis.\n \nCompletion of the Sale is conditional on the satisfaction of certain conditions, including the approval under the applicable foreign direct investment regimes in Italy and Sweden.\n \nThe consideration will be payable in cash and in full to the Company on completion (the \"Proceeds\"). The Proceeds will provide Venture Life and it...