BioPhausia sells rights to Hyskon

BioPhausia sells rights to Hyskon® BioPhausia has sold all its rights to the Hyskon® dextran-based gynecological product to Cooper Surgical, a US instrument and gynecological company, for a lump sum of SEK 17 M. Including the previous sale of dextran operations to Pharmalink Basläkemedel, BioPhausia has now divested its entire dextran business, resulting in net cash proceeds of SEK 36 M. This latest divestment involves a consolidated loss of SEK 22 M, which is to be reported for the 1997 fiscal year. Potential further payments from Pharmalink amount to a maximum of SEK 17 M, which will be reported as earnings in the year concerned. "This transaction completes the restructuring of our company, " says BioPhausia's President, Stellan Lind. "We will be entering 1998 as a purely research and development company, with a portfolio which includes products in various phases. Our aim is to be able to supply new products within our area of expertise to pharmaceutical companies with considerable marketing resources, thus generating funds for BioPhausia in the form of lump sum payments and licensing revenues." Uppsala, December 29, 1997 Based on its contact network and know-how, primarily in connective- tissue biology, BioPhausia is developing products for licensing to well-established pharmaceutical companies with strong marketing organizations. The project portfolio includes RescueFlow®, a resuscitation solution (registration phase), Krillase® for the debridement of chronic wounds (clinical phase III), and preclinical projects in the tumor and trauma treatment areas. Please contact the President, Stellan Lind, or the Vice-president, Richard Hainsworth for further information. Tel. +46-18-34 99 00