Genta To Split Into Two Entities
- Genta is to divide itself into two entities, it says, with a drug delivery company and a new separately-funded antisense cancer company, which will use the company's Anticode technology. Genta is working with Forward Ventures, a venture capital firm, to find funding for the proposed cancer company. Its European operation will be downsized and its dermatology business will be offered for sale, as will its JBL subsidiary which produces diagnostics and pharmaceutical intermediates. Genta is in discussions with a potential buyer for JBL at the present time.
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