BioVeris is the second incarnation of IGEN International, which spunout a large chunk of its molecular diagnostics business to Roche after winning protracted litigation against Roche for violations of the associated license. It begins trading tomorrow as BIOV.
It retains the intellectual property involoving it's core technology, electrochemiluminescence, as well as the drug discovery and biodefense businesses. It also has opportunities to deploy ECL in the parts of the clinical diagnostics field not covered by Roche.
Many expect that the company has a number of lucrative deals lined up that management hasn't been able to unveil until now. However, there are those who think that top management has employee relations problems, and a murkily nepotistic arrangement with Mesoscale and other private companies controlled by the Wohlstadter team of Sam, who runs BIOV, and son Jake, who runs Mesoscale Technologies. These people are wary of the business relationships among these companies and fear that BIOV's profits may be channeled into these private companies at the expense of shareholders.
Not a boring company. Let's try to keep commentary up to the usual standards of civil, on topic discussion that makes the SI biofreak community such a valuable resource to its members.
Details can be found here in the latest S-4/A:
sec.gov
And here: bioveris.com |
