Epix predictably happy
After an early disappointment out of the starting gate, Epix Pharmaceuticals Inc. now has put a second leg under its efforts to monetize its acquisition of neurology platform company Predix Pharmaceuticals Inc. earlier this year.
Last week, Epix (EPIX, Lexington, Mass.) said it would receive $35 million up front from GlaxoSmithKline plc in exchange for EPIX's PRX-03140 and three other programs for GPCR targets that the companies will pick jointly.
EPIX announced it would buy Predix last March. By the time the deal closed in August, the price totaled $134.2 million, which included the