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12:00 AM
Jul 10, 2006
 |  BioCentury  |  Finance

Hopp's repackaging project

Some nifty financial footwork is pushing two members of Germany's struggling biotech class of 1997 together to create a new CNS company. The assets of Axaron Bioscience AG have been transferred into a new corporate vehicle - Sygnis Bioscience GmbH & Co. KG - that will then be acquired by Lion bioscience AG (FSE:LIO, Heidelberg, Germany).

Axaron (Heidelberg, Germany), which has a protein in Phase II testing for stroke, had run out of steam and was no longer considered strategic by its major shareholder, BASF Aktiengesellschaft, while LIO had sold off its bioinformatics business and its only assets were its cash and public listing.


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