Safeguard Scientifics (SFE) Realizes $145.4 Million in Aggregate Cash Proceeds from Shire plc’s Acquisition of Advanced BioHealing, Inc.
6/28/2011 9:09:46 AM
WAYNE, Pa.--(BUSINESS WIRE)--Safeguard Scientifics, Inc. (NYSE: SFE), a holding company that builds value in growth-stage life sciences and technology companies, today announced that its aggregate cash proceeds from the completed sale of life sciences partner company Advanced BioHealing, Inc. (ABH) to Shire plc (LSE: SHP, NASDAQ: SHPGY) are $145.4 million. In addition, $7.3 million will be held in escrow pending the expiration of an escrow period expiring March 31, 2012. Safeguard’s total expected proceeds will represent a 13x cash-on-cash return.