Proteologics, Teva, XTL deal

XTL said it acquired 4.6 million (31.35%) of biopharmaceuticals company Proteologics from Teva at NIS1.41 per share, or about NIS6.5 million ($1.7 million). XTL said the shares represent the entirety of Teva's stake in Proteologics. Teva said it is no longer interested in the shares as part of its shift in focus. In May, Teva said it would present a full strategic plan for the company by year end and that it would be looking to divest businesses that do not fit and partner pipeline assets that are not in core areas. XTL could not be reached for comment (see BioCentury, May 28) ...