BioCentury
ARTICLE | Finance

Ebb & Flow

October 6, 2008 7:00 AM UTC

Symphony Capital went bottom fishing and came up last week with OxiGene. The deal could provide up to $40 million for OxiGene and a newco set up to develop two of the biotech's compounds - more than the $32.4 million OxiGene was valued at last Tuesday, the day before the deal was announced.

The newco, called Symphony ViDA, licensed ophthalmic uses of OxiGene's Zybrestat fosbretabulin vascular disrupting agent and OXi4503, a second-generation VDA currently in the clinic for cancer...