Graft Polymer (UK) PLC - London-based developer and producer of polymer modification and drug delivery systems - Disposes of Slovenia entity, Graft Polymer doo, to a private consortium in Slovenia for nominal consideration. ‘The directors believe that the company’s Graft Bio division represents significant value to investors based primarily on the revenue generating possibilities of Graft’s intellectual property, intangible assets and research & development contracts,’ it says.
‘Following an extraordinarily difficult two years for the company resulting in a huge depletion of funds on account and severe constraints on our ability to continue trading, I joined the board to oversee a strategic change and to progress a short term fundraise,’ Chair Nicholas Nelson.
‘The Slovenian Polymer facility and Graft Polymer d.o.o had, in the opinion of the board, become untenable and we have had to divest this to enable the other core business to flourish.’
Current stock price: 0.16 pence, closed down 2.5% on Friday in London
12-month change: down 97%
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