Mergers & Acquisitions

Cytyc expands women's health presence with acquisition

Published in Biotech Business Week, March 7th, 2005

Cytyc Corp. (CYTC), a women's health company, has entered into a definitive agreement to acquire Proxima Therapeutics, Inc., a privately held company that develops and markets delivery systems for the treatment of cancer.

The purchase price of $160 million, plus a 2-year earnout based on incremental sales growth in breast-related products, will be paid out of existing cash. This transaction is expected to close by the end of the first quarter and will be subject to customary closing conditions and clearance under the Hart-Scott Rodino Antitrust Improvements Act.

Proxima's lead product, the proprietary MammoSite Radiation Therapy System (RTS), is a...

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Source: Biotech Business Week (2005-03-07)

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