BioMarin buys Ibex assets

BMRN will purchase all pharmaceutical compounds from Ibex Technologies (TSE:IBT) for $8.5 million in stock and $2 million in cash. In addition, IBT will receive up to $9.5 million upon FDA approval of its acquired products. According to the companies, IBT's first product Neutralase injectable heparinase, which reverses the effect of anticoagulants, will go into Phase III testing in 2002 for coronary artery bypass graft ( CABG) surgery. Leerink Swann advised BMRN, and BMO Nesbitt Burns advised IBT. ...