Warnex, Biotrial Research S.A.S. deal

Warnex will sell its Bioanalytical Services division to CRO Biotrial for C$6 million ($6 million) in cash. Warnex is also eligible for an additional payment equal to the amount by which adjusted 2012 revenues from the division exceed C$6 million. Warnex may also terminate the deal for C$200,000 ($200,120) if it receives a superior offer and Biotrial does not exercise its right to match the offer. The deal is subject to approval by Warnex shareholders, which the company expects to take place by Dec. 10. For the six months ending June 30, 2012, Warnex reported its Bioanalytical Services division generated C$2.7 million ($2.6 million) in revenue. ...