PARIS, April 14 French ophthalmology company
Novagali is in talks with drugmakers including Sanofi-Aventis
(SASY.PA) that could lead to a takeover and is mulling an
initial public offering, a French newspaper said on Wednesday.
A Sanofi-Aventis spokesman said the company did not comment
on merger and acquisition activity.
No one at Novagali was immediately available for comment.
Novagali Chief Executive Jerome Martinez was quoted as
saying in Les Echos newspaper that the company had enough cash
until the end of this year and that it would seek extra funding
Les Echos said Novagali was looking to raise between 20
million and 30 million euros ($41 million).
Sanofi-Aventis last year bought eye disease specialist
Fovea, entering what it called at the time a dynamically growing
market as the population ages.
(Reporting by Caroline Jacobs, editing by Will Waterman)