Fibrocell Science, Inc. Enters into Agreement to Sell Majority Ownership Stake in Agera Laboratories for $0.85 Million
Fibrocell to Focus on Commercialization and Further Development of LAVIV™ (azficel-T)
EXTON, Pa.–Fibrocell Science, Inc. (OTCBB:FCSC) announced today that it has entered into a definitive agreement to sell its majority ownership stake in Agera Laboratories, a skincare company offering anti-aging, pigmentation and acne treatment products, to Rohto Pharmaceutical Co., Ltd. for $0.85 million. Within ten days, $0.40 million is to be paid and the remaining balance will be paid at the closing of the transaction, which is expected by August 31, 2012. Fibrocell acquired a 57 percent ownership stake in Agera Laboratories in August 2006.
“With the recent FDA approval of our lead product LAVIV, we are now focusing our efforts on the commercialization of LAVIV and the pursuit of additional indications for the product,” said David Pernock, Fibrocell’s Chairman and CEO.
About Fibrocell Science, Inc.
Fibrocell Science, Inc. (OTCBB:FCSC) is an autologous cellular therapeutic company focused on the development of innovative products for aesthetic, medical and scientific applications. Fibrocell Science is committed to advancing the scientific, medical and commercial potential of autologous skin and tissue, as well as its innovative cellular processing technology and manufacturing excellence. For additional information, please visit fibrocellscience.com.
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