Monday, November 19, 2001
Human antibody technology may be hot, but it's not always enough. To
round out its capabilities, Abgenix Inc. has been acquiring complementary technologies.
Its latest move was last week's purchase of Hesed Biomed Inc., a developer of catalytic
antibodies (CAbs). The new technology is expected to be used in situations where the use
of conventional MAbs are less favorable.
ABGX (Fremont, Calif.) will acquire Hesed (Omaha, Neb.) for $17.9
million, including $360,000 in cash and 540,000 ABGX shares valued at $17.5 million based
on ABGX's Friday close at $32.47.