Wednesday, November 09, 2005

Argenta Discovery looking at float or sale.

Argenta Discovery, the Essex, UK-based drug-development business, is considering a sale or flotation. Although chief executive Chris Ashton said the privately-owned company was not for sale, he confirmed bankers had been hired to consider options. The business is focused on respiratory drugs which have drawn the interest of giants such as AstraZeneca and GlaxoSmithKline. Argenta investors include MVM, ABN Amro and 3i; the company earned �8.5m in revenues from carrying out research for other parties.


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