Nucryst Pharmaceuticals Corp. (NCST, NCS.TO) said that it has agreed to sell substantially all of its operations and assets including all rights to its proprietary nanocrystalline silver technology to subsidiaries of Smith & Nephew Plc (SNN,SN.L) for cash consideration of US$21 million plus the value of working capital and subject to certain adjustments.
Nucryst also entered into an amalgamation agreement with Westaim Corp., which currently owns about 75% stake in Nucryst.
Under the amalgamation agreement, Nucryst will amalgamate with a newly formed subsidiary of Westaim to form Amalco and Nucryst shareholders other than Westaim will receive one redeemable preferred share in the capital of Amalco, which share will be redeemed for US$1.77 in cash upon the completion of the amalgamation.
Completion of the amalgamation is subject to certain conditions including closing of the sale transaction and the approval of Nucryst shareholders.
For comments and feedback contact: editorial@rttnews.com
June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.