Dow Schofield Watts advised on the sale of Coris Bioconcept SRL (“Coris”) by Avacta Group PLC (“Avacta” or the “Company”) to an Indian-listed company, 3B BlackBio Dx Ltd (“3B BlackBio”), which formally completed on 29 August 2025 following the satisfaction of all closing conditions.
This follows Dow Schofield Watts advising on the divestment of Launch Diagnostics by Avacta to Spain-based Palex, in March 2025, and is the important final step in the Company’s goal of becoming a pure-play therapeutics business. The sale proceeds will be used to further Avacta’s pre|CISION® platform.
The cross-border acquisition of Coris marks a strategic expansion for 3B BlackBio, enhancing its European presence and broadening its product range to include antimicrobial resistance (AMR) testing, alongside its existing infectious disease and oncology capabilities.
Dave Graham, Corporate Finance Partner at DSW, said: “We are proud to have overseen the divestment of Avacta’s Diagnostics Division, executing simultaneous international marketing’s for Launch and Coris, ensuring Avacta successfully achieved its stated objectives.”
Paul Herriott, Corporate Finance Partner at DSW, added:“DSW was able to identify a clear list of strategic buyers and ensure these complex, international transactions were completed effectively and efficiently. We are pleased to have worked with the Board of Avacta and the Management teams of both Launch and Coris, who we wish every success in the future.”
Christina Coughlin, M.D., Ph.D., Chief Executive Officer of Avacta, commented: “This disposal marks the pivotal final step in Avacta’s transition to a pure-play therapeutics company. We are now fully focused on advancing our promising peptide drug conjugate pipeline powered by our innovative pre|CISION® technology, which is delivering precision oncology treatments that have the potential to make a meaningful impact on patient outcomes.”
Avacta was advised on the sale of its Diagnostics Division by Dow Schofield Watts Corporate Finance, Walker Morris (UK legal) and Stibbe (Belgium legal).
Alba Trees, a leading UK-wide supplier of cell-grown broadleaf trees, hedging and woodland management solutions and portfolio company of Cibus Capital, has acquired Christies of Fochabers, a well-established bare root tree nursery based in Scotland.
