VYNT - Vyant Bio to sell unit vivoPharm to Reaction Biology for $5.5M

• Vyant Bio ( NASDAQ: VYNT ) said Thursday it will sell its unit vivoPharm in Hershey, Pennsylvania to contract research organization Reaction Biology for $5.5M in cash.
• Shares of Vyant ( VYNT ) edged 4.6% higher on Thursday.
• Reaction will retain U.S. personnel from the acquired unit to establish its presence in Hershey.
• Through the acquisition, Reaction will gain laboratory facilities, equipment, employees, cell lines and capabilities that expand its suite of drug discovery services.
• Vyant ( VYNT ) expects to net ~$4.4M in cash after tax and transaction-related costs, as well as incur $0.6M in exit costs.
• "This transaction provides non-dilutive capital and enables Vyant ( VYNT ) to concentrate efforts to more rapidly advance our therapeutic pipeline in genetic CNS disorders," said CEO Jay Roberts.

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