BioFocus, Cambridge Drug Discovery Ltd., Millennium, Teijin Ltd. deal

BIO will acquire Cambridge Drug, a biology services company, for £27.5 million ($39.5 million) in stock. Cambridge Drug focuses on assay and high throughput screening systems to discover small molecules that modify cellular signaling and develops assays for ion channels, G protein-coupled receptors and kinase targets. BIO is offering 17.5018 shares for one Cambridge Drug share and expects to issue 5.3 million BIO shares for the 305,575 fully diluted Cambridge Drug shares outstanding. After the deal, Cambridge Drug shareholders would own 33% of BIO. ...