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Proteomics International Laboratories sells stake in CPR Pharma Services

Proteomics International Laboratories Ltd. said it closed the sale of its stake in CPR Pharma Services Pty Ltd. for $928,399.

Perth, Australia-based Proteomics acquired a 10% stake in CPR in March for A$1.2 million. The medical technology company sold the stake as CPR Pharma Services undergoes a full takeover by an undisclosed party.

The memorandum of understanding between Proteomics and CPR Pharma Services will remain valid, covering advanced diagnostics and analytical services for clinical trials.

Adelaide, Australia-based CPR Pharma provides drug development support services to clients in the U.S. and Asia.