Novacyt confirms end of Yourgene Taiwan disposal discussions

Novacyt announced on Tuesday that it had received formal notification from INEX Innovate terminating discussions around the acquisition of Yourgene Health Taiwan.

The AIM-traded firm noted that Yourgene Health initially announced the acquisition on 13 June 2023.

As a result of the termination, Yourgene's Taiwanese laboratory business would remain within the Novacyt group.

“The board does not consider the divestment material and will continue to evaluate a number of options in relation to the future of the Taiwanese laboratory business that offer the best value to all stakeholders,” the Novacyt board said in its statement.

At 1158 GMT, shares in Novacyt were down 5.77% at 47.35p.

Reporting by Josh White for Sharecast.com.