Fibrocell Science, Inc. Enters into Agreement to Sell Majority Ownership Stake in Agera Laboratories for $0.85 Million
6/8/2012 9:38:23 AM
EXTON, Pa.--(BUSINESS WIRE)--Fibrocell Science, Inc. (OTCBB:FCSC) announced today that it has entered into a definitive agreement to sell its majority ownership stake in Agera Laboratories, a skincare company offering anti-aging, pigmentation and acne treatment products, to Rohto Pharmaceutical Co., Ltd. for $0.85 million. Within ten days, $0.40 million is to be paid and the remaining balance will be paid at the closing of the transaction, which is expected by August 31, 2012. Fibrocell acquired a 57 percent ownership stake in Agera Laboratories in August 2006.