PDT, Pharmacia AB deal

Pharmacia AB's Pharmacia S.p.A. subsidiary signed an exclusive license for the Santa Barbara, Calif., company's tin ethyl etiopurpurin (SnET2) for photodynamic therapy.

Pharmacia will purchase 400,000 shares of PDTI common stock for $12 million. Pharmacia will own 7 percent (483,334 shares) of PDTI, which will have 6.9 million shares outstanding following the investment. ...