01 May 2018
CLINUVEL PHARMACEUTICALS LTD today announced that it has entered into an agreement to acquire 18% of the joint venture established in 2014 between CLINUVEL and Biotech Lab Singapore Pte Ltd (BLS). With this transaction CLINUVEL will gain 100% ownership of VALLAURIX in Singapore:
- CLINUVEL Group to acquire 18% of Singaporean joint venture VALLAURIX PTE LTD from Biotech Lab Singapore Pte Ltd for 33,559 CLINUVEL ordinary shares
- VALLAURIX PTE LTD will continue to focus on R&D
- CLINUVEL to expand its research facilities in Singapore.