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ARTICLE | Company News

Maxygen acquires ProFound Pharma

April 12, 2000 7:00 AM UTC

Directed evolution company Maxygen (MAXY) acquired ProFound (Copenhagen, Denmark) for 980,000 MAXY shares, or $53.2 million based on MAXY's Wednesday close of $54.25. MAXY could pay $10 million in additional shares, subject to put and call options. ProFound develops high-throughput screening systems, computer modeling, protein chemistry and pharmacological characterization technologies. ProFound is focused on the site-specific modification of proteins, including directed PEGylation and directed glycosylation. ...