BioCentury
ARTICLE | Company News

Biomira, ProlX Pharmaceuticals Corp. deal

November 6, 2006 8:00 AM UTC

BRA acquired ProlX for $3 million in cash and 17.9 million shares of BRA stock, which is valued at C$23.8 million ($21.3 million) based on BRA's close of C$1.33 on Oct. 30, the last trading day before the deal was closed. ProlX shareholders will be eligible for up to $15 million in additional BRA stock upon achieving certain development and commercialization milestones, and could receive a share of revenues under a potential collaboration for an undisclosed ProlX product in a non-oncology indication. ProlX President and CEO Lynn Kirkpatrick will become BRA's CSO. ...