GlycoMar sells its seafood testing arm

GlycoMar, the Oban-based marine biotechnology firm, yesterday sold VeroMara, its seafood testing business, to New York-listed Neogen for an undisclosed sum.

Neogen, which has its European office in Ayr, said VeroMara turned over $800,000 (494,000) last year. GlycoMar bought VeroMara in 2009.

Charlie Bavington, GlycoMar's managing director, said ten of his 19 staff would transfer to Neogen, and that he would use the cash from the sale to expand its research and development.