Cohesion Corp., Collagen Corp. deal

CGEN purchased for $10 million the remaining 20 percent of Cohesion that CGEN did not own. CGEN plans to merge Cohesion into CGEN's Collagen Technologies Group (Palo Alto, Calif.), which is scheduled to be spun off as a separate company to CGEN stockholders via a tax-free distribution in 1998. CGEN will rename the combined company Cohesion Technologies Inc.

Cohesion develops biomaterials for use as hemostatic agents, tissue sealants or adhesion prevention barriers for surgical applications. ...