IBA finalizes acquisition of CIS bio

Belgian radiopharmaceutical firm Ion Beam Applications (IBA) of Louvain-la-Neuve has moved to finalize its purchase of CIS bio International, the company reported.

IBA will exercise its option to buy 80.1% of the indirect interest in CIS bio held by the Institut National des Radioéléments (IRE) of Fleurus, Belgium. The purchase price will be 20 million euros ($31 million); IBA will pay 50% in cash and 50% in stock.

The cash payment will be used to start projects useful to the development of IRE, CIS bio, and IBA, the company said.

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