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Proximagen acquires Biovitrum subsidiary Cambridge Biotechnology
December 2009
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LONDONóProximagen Neuroscience PLC, a publicly traded neuroscience research company focused on drug development for neurodegenerative disorders, announced in November that it signed an agreement to acquire Biovitrum's wholly owned subsidiary, Cambridge Biotechnology Ltd. Proximagen will also get several Cambridge Biotechnology programs, including two clinical-stage programs, 5-HT2c agonist and the cognition programme, 5-HT6, as well as a number of preclinical-stage programs, including VAP-1 and TrkA from Biovitrum. Detailed financial terms of the deal were not disclosed, but Proximagen said it will pay Biovitrum a percentage of future revenues generated from the acquired drug development programs.

 

 

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