Tinnitus Treatment Solutions and food standards and sanitation company RF Biocidics are among the casualties of the $146.6m writedown, with capital being diverted to more promising subsidiaries.
Allied Minds, the US-based life science and technology commercialisation company, on Wednesday announced a $146.6m writedown on the value of seven business.
The discontinuation of funding for these subsidiaries will free up $14m of capital spend budgeted for 2017.
The company has said it will seek “strategic alternatives” for these businesses, including liquidation, sales or transfers of legal entities or assets. The capital freed up from the writedown will be diverted to its more promising spinouts.
The…
