BioCentury
ARTICLE | Company News

Optimer selling stake in Taiwan subsidiary for $60M

October 9, 2012 12:38 AM UTC

Optimer Pharmaceuticals Inc. (NASDAQ:OPTR) plans to sell its 43.6% stake in Taiwan subsidiary Optimer Biotechnology Inc. to the subsidiary's other shareholders for $60 million. Optimer Biotechnology is conducting a Phase II/III trial of OPT-822/821 to treat metastatic breast cancer. The subsidiary has rights from Optimer to the product, which is a combination of an adjuvant with carbohydrate antigen globo-H linked to a protein carrier. Optimer expects to complete the deal next quarter. The company would not disclose details on the other shareholders. ...