1755 ET - Alcon's purchase of a majority of Aurion Biotech, which is developing cell therapies for eye diseases, follows a contentious relationship between the companies. Alcon invested in Aurion in 2022 and sued it last October, and Aurion countersued in November. Alcon opposed Aurion's planned initial public offering. Aurion said it had "rejected multiple inadequate bids" from Alcon. Aurion filed for the IPO confidentially in October and disclosed its plans in January. In the risk factors section of its filing, the company said "We are currently engaged in litigation against our largest stockholder, Alcon." Alcon joined a $120 million Series C financing in 2022 led by Deerfield Management. As of January, other top shareholders included Petrichor and KKR-backed Falcon Vision. (josh.beckerman@wsj.com)
(END) Dow Jones Newswires
March 26, 2025 17:55 ET (21:55 GMT)
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