MDS Pharma sells Fermentation Technologies to Panlabs Biologics

By Angela McDaniels

Seattle, Dec. 19 - MDS Pharma Services said it has sold its Fermentation Technologies business to Panlabs Biologics of Taiwan.

Assets associated with Fermentation Technologies include equipment, technology and personnel located at the MDS Pharma Services facility in Taipei, Taiwan. The business, which was moved into discontinued operations, generated $3.5 million in revenues during 2005, the company said.

Anderson Hong has been named president of Panlabs Biologics, which was formed by CDIB BioScience Venture Management and individual investors.

MDS Pharma described the sale as one of a number of actions taken over the past year to focus the company on its core strengths.

MDS Pharma Services, a subsidiary of MDS Inc., is based in Philadelphia and provides drug discovery and development services to the pharmaceutical and biotechnology industries.

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