ProBiora Health acquires Oragenics’ consumer probiotic business
ProBiora Health will pay $1,250,000 at closing and $450,000 on or before July 31, 2016.
Dr Frederick Telling, Chairman of Oragenics, a developer of novel antibiotics against infectious disease and developing effective treatments for oral mucositis, said: “In December 2014 we announced that we were seeking strategic alternatives with respect to our Consumer Probiotics Business and, as a result of this process, we believe that this transaction is in the best interest of the Company and our shareholders as it will allow us to focus our efforts and resources on developing our novel antibiotics against infectious disease and on developing effective treatments for oral mucositis through our exclusive worldwide channel collaborations with Intrexon Corporation.”
Ms. Koski is a director as well as a significant shareholder of the Company through the Koski Family Limited Partnership. The sale is expected to close on or about June 24, subject to customary closing conditions.
Additional information is available in the company's Form 8-K.
