BioCentury
ARTICLE | Company News

Inflazyme acquiring Adprotech

April 8, 2004 7:00 AM UTC

Inflazyme (TSE:IZP) said it will acquire Adprotech (Cambridge, U.K.) in a stock deal worth about C$20 million ($15.2 million). IZP will issue 12.7 million shares at about C$1.59, based on the 15-day closing average of IZP. The deal provides IZP with an inflammation technology platform in complement inhibition, and Adprotech's Prodaptin drug-targeting system. The deal also includes Adprotech's APT070, a genetically modified fragment of an anti- CD35 antibody that is in Phase I/II studies to treat rheumatoid arthritis (RA) and to prevent delayed graft function in solid organ transplantation. ...