Alcon buys majority stake in IPO-seeking cell therapy startup Aurion https://t.co/xkBAAcoXQx $ALC By Kristin Jensen
Alcon buys majority stake in IPO-seeking cell therapy startup Aurion https://t.co/NpaA2UUxcm by Kristin Jensen $ALC $AURN #IPO
The bizarre legal fight between Alcon and Aurion has taken its next turn Alcon says it now has a majority stake in the cell therapy startup, and has replaced CEO and founder Greg Kunst, effective immediately My latest @endpts: https://t.co/AFzjDRn3YN
Alcon has acquired a majority interest in Aurion Biotech, Inc., a startup focused on innovative cell therapy for corneal endothelial disease. This acquisition comes amid a legal dispute between the two companies. Alcon has also replaced Aurion's CEO and founder, Greg Kunst, effective immediately. The acquisition is part of Alcon's strategy to expand its portfolio in the ophthalmology sector, particularly as Aurion was seeking an initial public offering (IPO). The transaction is expected to enhance Alcon's capabilities in addressing corneal diseases, which can lead to vision impairment.