Oxis deal

OXIS signed a letter of intent to acquire Therox Pharmaceuticals Inc. (Philadelphia), a privately held developer of antioxidant compounds and free radical scavengers, for 1.44 million shares of OXIS common stock. Therox shareholders may earn up to an additional $2 million based on commercialization of the technologies.

OXIS said Therox has developed molecules that may have use in treating diseases that are responsive to dual function and lipid-soluble antioxidants and/or enzyme inhibitors. Potential indications include remote tissue injury and inflammatory diseases of the eye, dermal and pulmonary systems. ...