FineTech, Opko deal

Opko acquired API manufacturer FineTech in a cash and stock deal valued at $27.5 million. Opko will pay $10 million in cash and $17.5 million in shares. FineTech is also eligible for up to $5 million in sales milestones. Opko said FineTech's chemistry capabilities will aid in developing Opko's pipeline of peptoids and other molecules for use in diagnostics and therapeutics. Opko has several peptoids in early development to diagnose non-small cell lung cancer (NSCLC) and pancreatic cancer. Peptoids are peptide-like chains in which amino acids are connected to the peptide backbone at the nitrogen position rather than at their natural carbon position. ...