Intercell AG in Exploratory Talks With Private Equity, CEO Says
9/27/2011 8:12:47 AM
Intercell AG, the Austrian biotech whose shares plunged 89 percent after research setbacks, is in talks about selling a stake to a private-equity firm, the chief executive officer said. It’s too early to say how much of the company a private- equity partner might purchase, CEO Thomas Lingelbach said in an interview in Vienna yesterday. Shareholders have authorized the company to sell as many as 16 million new shares. Intercell has 48.59 million shares outstanding.