DepoTech: A bridge too far

Even though DepoTech Corp.'s DepoCyt cancer compound is getting a second chance at the FDA, the company said that knowing about an upcoming advisory panel review would not have altered its plans to be acquired. DEPO already was deeply engaged in buyout/partnering discussions when it received news that the Oncologic Drugs Advisory Committee (ODAC) would review DepoCyt on Nov. 16.

Thus, less than a month from a key milestone in the end game for its sustained-release formulation of cytarabine to treat neoplastic meningitis from lymphomas, DEPO chose to be acquired by SkyePharma plc (LSE:SKP; SKYEY) in a stock deal initially worth $25.6 million...