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Memphasys closes sale of gels business to Dycent Biotech

Memphasys Ltd. completed the sale of its gels business to Dycent Biotech (Shanghai) Co. Ltd.

The $130,000 deal includes Memphasys U.S. unit NuSep Inc., a manufacturing plant and related patents. The transaction was announced April 2016, when Memphasys was still known as NuSep Holdings Ltd.

The deal closed after Memphasys fulfilled the contractual requirement of commissioning of the gels manufacturing plant, which was relocated to Shanghai.