MediGene and Cardiogene buy in U.S.

Two mergers of U.S. and European companies were announced Thursday, both of which will have headquarters in Europe. MediGene (NMarkt:MDG), a cardiovascular and cancer company, will acquire NeuroVir Therapeutics (San Diego, Calif.), which specializes in herpes simplex virus vectors to treat cancer. MDG will issue about 1 million shares in exchange for the 91 percent of NeuroVir it does not already own, valuing the deal at about EUR89.5 million ($78 million) based on MDG's Thursday close at EUR89.50. MDG said the acquisition will boost its portfolio of products in development from three to five: NeuroVir brings G207, a Phase I/II product to treat brain tumors, and NV1020, a Phase I/II product to treat colorectal cancer. ...