ARTICLE | Company News

Protein Design Labs deal

January 3, 1994 8:00 AM UTC

Corange Ltd. completed its first investments in PDLI (Mountain View, Calif.), purchasing 1.2 million shares of newly issued PDLI common stock at $25 per share for a total of $30 million. Under the October partnering agreement, Corange also has paid $12 million to PDLI, of which $11.3 million will be recorded as revenue in the fourth quarter. ...