 A Nasdaq-listed patent licensing specialist backed by activist investor Starboard Value has agreed to buy a portfolio of biotech investments formerly managed by Neil Woodford for up to 224m. The sale to Acacia Research comes 12 months after the 3.7bn Woodford equity income fund was suspended following years of weak investment performance and an exodus of investors. Link Fund Solutions, the funds administrator, said the sale to Acacia was for an agreed selection of up to 19 of the funds healthcare assets in return for up to 223.9m. 