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Jerini AG to close all US operations of Jerini Ophthalmic

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BERLIN — Jerini AG's supervisory board has approved a decision to terminate all operations of North American subsidiary Jerini Ophthalmic, the company announced in a press release.

This follows an unsuccessful attempt to locate an investor to buy Jerini Ophthalmic, after which it was decided that maintaining the subsidiary's operations would be unjustified given the substantial investments required.

Jerini AG expects to incur impairments of investments of up to €6.8 million and to sustain about €1.4 million in costs as a result of closing the operations of Jerini Ophthalmic, the release said.