The French group has initiated an open-market sale process of the Novaprep business unit including its clinical lab in Cambridge, UK
Novacyt, the French group that specialises in clinical diagnostic products, is set to sell the Novaprep division in a move to focus on its core business of in vitro diagnostics product development, commercialisation and contract manufacturing through its Primerdesign and Lab21 products.
The decision, the company said, has been prompted in part by an unsolicited proposal to acquire the Novaprep business.
The company has also concluded that its clinical laboratory unit, a small part of the Lab21 business, is also non-core and not integral to its in vitro diagnostic products focus.
Based in Cambridge, UK, the clinical laboratory unit specialises in clinical pathology testing services in oncology and virology.
Novaprep specialises in advanced liquid-based cytology solution for the diagnosis of cervical cancer as part of a screening programme and of non-gynecological cancers in patients.
Designed and developed by Novacyt, the product features a unique vial with integrated cell extraction system, a self-sealing cap and preservative media to preserve the cells in a near-native state which maintains cell clusters and cell integrity.
Novacyt has appointed advisors and initiated a formal open-market sales process that may result in the sale of the entire business unit either as a single entity or as separate assets to multiple parties.