Open Orphan held a small stake in Integumen through its recent reverse takeover of Venn Life Sciences, which spun out Integumen a few years ago
PLC () has sold its remaining shares in cosmetics testing group PLC ().
Integumen was spun out of Venn Life Sciences – the forerunner to Open Orphan – back in 2016, which left the latter with a stake in the new business.
After Open Orphan’s recent reverse takeover of Venn, the new management has decided to sell its holding.
Integumen said the shares, equating to a holding of around 3.1%, had been sold to existing long-term shareholders, “thereby eliminating any overhang on the open market”.
Integumen shares were up 1.4% to 2.08p, valuing the company at just over £20mln.
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