Asterand deal

The tools and tissue-based research services company said that it received notice that a potential bidder will no longer seek acquisition of Asterand's BioSeek Inc. business. Last month, Asterand said that it signed letters of intent to separately sell its BioSeek and non-BioSeek Tissue Based Solutions business. Asterand said that while the board is making "good progress" with the sale of the non-BioSeek business, resulting proceeds may not sufficiently satisfy all amounts owed on the company's secured loans. The board is exploring strategic alternatives for the BioSeek business, including additional funding from a third party. ...