ProPhase (NASDAQ: PRPH), a next-generation biotech, genomics, and diagnostics company, earlier this year announced the closing of the sale of its wholly owned subsidiaries, Pharmaloz Manufacturing Inc. and Pharmaloz Real Estate Holdings Inc. (collectively “Pharmaloz” or “PMI”), to a private equity group based in Houston, Texas. The transaction’s aggregate deal was valued at approximately $23.6 million, which immediately bolstered ProPhase’s balance sheet and liquidity by eliminating over $20 million in debt, payables, and other contingent liabilities. Overall, the transaction better positioned ProPhase to focus on its promising and high-value core businesses.
To view the full press release, visit https://ibn.fm/7xp1E
About ProPhase Labs Inc.
ProPhase is a next-generation biotech, genomics and diagnostics company. Its goal is to create a healthier world with bold action and the power of insight. ProPhase is revolutionizing healthcare with industry-leading Whole Genome Sequencing solutions, while developing potential game changer diagnostics and therapeutics in the fight against cancer. This includes a potentially life-saving cancer test focused on early detection of esophageal cancer and potential breakthrough cancer therapeutics with novel mechanisms of action. ProPhase develops, manufactures, and commercializes health and wellness solutions to enable people to live their best lives. The company is committed to executional excellence, smart diversification, and a synergistic, omni-channel approach. ProPhase Labs’ valuable subsidiaries, their synergies, and significant growth underscore its potential for long-term value.
About BioMedWire
BioMedWire (“BMW”) is a specialized communications platform with a focus on the latest developments in the Biotechnology (BioTech), Biomedical Sciences (BioMed) and Life Sciences sectors. It is one of 70+ brands within the Dynamic Brand Portfolio @ IBN that delivers: (1) access to a vast network of wire solutions via InvestorWire to efficiently and effectively reach a myriad of target markets, demographics and diverse industries; (2) article and editorial syndication to 5,000+ outlets; (3) enhanced press release enhancement to ensure maximum impact; (4) social media distribution via IBN to millions of social media followers; and (5) a full array of tailored corporate communications solutions. With broad reach and a seasoned team of contributing journalists and writers, BMW is uniquely positioned to best serve private and public companies that want to reach a wide audience of investors, influencers, consumers, journalists and the general public. By cutting through the overload of information in today’s market, BMW brings its clients unparalleled recognition and brand awareness.
BMW is where breaking news, insightful content and actionable information converge.
To receive SMS alerts from BioMedWire, “Biotech” to 888-902-4192 (U.S. Mobile Phones Only)
For more information, please visit https://www.BioMedWire.com
Please see full terms of use and disclaimers on the BioMedWire website applicable to all content provided by BMW, wherever published or re-published: https://www.BioMedWire.com/Disclaimer
BioMedWire
Austin, Texas
www.BioMedWire.com
512.354.7000 Office
Editor@BioMedWire.com
BioMedWire is powered by IBN
