BioCentury
ARTICLE | Company News

Adeza, Cytyc deal

February 19, 2007 8:00 AM UTC

CYTC agreed to acquire women’s health company ADZA for $452 million, or $24 per share, in cash. The price is a 55% premium to ADZA’s close of $15.53 on Feb. 9, the last trading day before the deal was announced. The deal will give CYTC FullTerm, a marketed fetal fibronectin test that identifies women at risk of preterm birth, and Gestiva to prevent preterm birth in women with a history of preterm delivery. ADZA received an approvable letter for Gestiva in October in which the FDA requested an additional animal study and "certain other conditions" (see BioCentury, Oct. 30, 2006). Gestiva is a long-acting form of a naturally occurring progesterone, 17 alpha-hydroxyprogesterone caproate (17P). CYTC markets surgical and diagnostic products focused on women’s health and cancer ...