OncoVista Divests AdnaGen Subsidiary for up to $65M

OncoVista Innovative Therapies, Inc. (OVIT) recently announced that the Company had divested its majority holding of subsidiary AdnaGen AG. On October 28, 2010, OncoVista Innovative Therapies, Inc. entered into a Stock Purchase Agreement with a buyer whereby the Company sold all of its shares, representing approximately 78% of the total issued and outstanding shares, of its majority-owned German operating subsidiary AdnaGen AG.