KPMG to sell ‘Dolly the sheep’ business

Link: Corporate finance dilemma

KPMG, alongside a four-man team from PPL Therapeutics, will look to sell the company either in its entirety or piecemeal, the Evening Standard reported.

PPL Therapeutics made national and world headlines when it produced the world’s first cloned new mammal, which in turn, helped turn the company into a £500m stock market star.

But commercial uses for the technology were hard to find and the company was unable to develop marketable products from the science breakthrough.

Three directors, including chief executive Geoff Cook, have stepped down as well as two non-executive directors.

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