MALVERN: Realm Therapeutics plc has announced the completion of its previously announced assets disposal representing certain assets, which comprise the Vashe wound care royalty stream, an FDA 510(k)-cleared anti-itch hydrogel, which was formerly marketed as Aurstat, HOCI related equipment, intellectual property, program records and certain assigned contracts and intellectual property licenses. Gross proceeds of the assets disposal are US $10 million.
Realm continues to assess options available to maximize shareholder value through the strategic review. The company remains in discussions with interested parties regarding a potential strategic transaction and intends to update the market with respect thereto in early Q2 2019.
The net proceeds of the assets disposal will augment the company’s current cash resources, which may be deployed in event of such a transaction.
Realm Therapeutics is currently exploring strategic alternatives. The Investing Policy, which remains the strategic focus of the Directors, requires the Company to seek to invest in, partner with, acquire and/or be acquired by a company with meaningful development potential in the life sciences sector or with good overall business prospects, a statement issued to London Stock Exchange (LSE) noted.[the_ad id=”31605″]