EiRx buys stake in Auvation

Ian Guider

The company said it has bought a 56% stake in Scottish biotechnology firm Auvation. The company develops ways to diagnose and treat cancer.

EiRx said in the year to end August 2003, Auvation had profits of E114,003 and assets of E121,214. All the company’s revenues have been reinvested in development of its technology, workforce and facilities, it added.