Another New Approach to Cytology
The founder and former CEO of AccuMed International Inc., Peter Gombrich, has started a new company based on licensing and acquisitions in the fields of cytology and urology. He is using an innovative financing strategy that merges the privately held InPath LLC into Bell National Corp., a publically traded shell company. This allows Inpath to obtain cash and offer investors an exit, despite the coolness of public markets to small cap stocks.
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If Ampersand Medical Corp. started with an unusual financing strategy, its current efforts to get listed on a major stock exchange are also a bit innovative and circuitous. The fact that it has managed to survive and progress in a tough era for diagnostics, even though it is a late entrant into the crowded field of cervical cancer screening, is a testament to the value of this approach. Its founder, Peter Gombrich, has started several device and diagnostic companies which have acquired each other or licensed from one another, including AccuMed International and InPath. Now, Ampersand wants to buy AccuMed to gain access to short-term revenues, patents, and technologies related to early-stage cancer detection.
Zydus Cadila expects domestic sales to improve and the US generics business to grow in “mid to high” single digits during FY21 after both saw a coronavirus-related hit in Q1. Meanwhile, approvals for a few biologics are expected, its COVID-19 vaccine candidate has just entered Phase II studies and remdesivir launch looms.
At-home nail and hair care and e-commerce were bright spots in a numbing second quarter for Revlon, which was hit hard by mass retail and salon channel closures at a time of ongoing transformation.