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Business
Tripos Halts Sale Of Chemistry Arm
March 5, 2007
| A version of this story appeared in
Volume 85, Issue 10
Tripos has ended an agreement to sell its U.K.-based Discovery Research business to Provid Pharmaceuticals for $2 million (C&EN, Jan. 8, page 29) after Provid failed to provide a financing commitment letter. Tripos says it will work to restructure the transaction with Provid but also will talk with other interested parties. The sale is the second step in Tripos' dissolution as a publicly traded company. Late last year, Tripos announced the sale of its Discovery Informatics business to Vector Capital for $25.6 million.
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