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)
Copyright (c) 2025 Dow Jones & Company, Inc.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
No relevant data is available
If the download button clicks without skipping, click on the top right menu and select "Open in Browser."