Emergent BioSolutions announced April 15 that it has begun the formal process of separating some of its assets to form a separate entity, which will be known as Aptevo Therapeutics Inc.
Aptevo will specifically focus on immuno-oncology technology, while Emergent will consolidate its focus on public health.
“The filing of the Form 10 Registration Statement is an important milestone in the execution of our plan to create two independent, publicly traded companies with distinct strategic plans, growth strategies, and operational and development priorities,” Emergent President and CEO Daniel Abdun-Nabi said. “This spin-off will allow each entity to establish itself as a pure play company -- Emergent in the public health threats and emerging infectious diseases fields and Aptevo in the immuno-oncology field. We look forward to completing the spin-off to unlock the full value of each business for our stockholders.”
Before the spin-off becomes official, Emergent must get approval for the Form 10 Registration Statement it has filed with the U.S. Securities and Exchange Commission, in addition to receiving approval from its board of directors.