Neoprobe Corp. Neoprobe Corp. Latest from The Business Journals Neo-Neoprobe? Drugmaker sells name with device businessNeoprobe detector biz sale turns biotech into drug makerAs expected, Neoprobe investors OK detector biz sale Follow this company began trading Thursday as a different company than it was the day before.
The Dublin-based drug developer told investors late Wednesday that it closed a deal to sell its handheld gamma radiation detector business to Cincinnati-based Devicor Medical Products Inc. in a $30 million transaction, plus $20 million in pledged royalties. The product was Neoprobe’s chief source of revenue and shedding it allows the company to focus on the development of radioactive diagnostic drugs.
Neoprobe (AMEX:NEOP) shareholders approved the deal at the company’s annual meeting Monday.
