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Abraxis BioScience, Inc.
Abraxis and ProMetic Enter License Agreements for up to $295 M US for Four Biopharmaceuticals
September 19th, 2008
Abraxis BioScience, Inc. (NASDAQ:ABII) and ProMetic Life Sciences Inc. (TSX:PLI) announced that they have signed definitive agreements for the development and commercialization, on a world-wide basis (excluding China and Taiwan), of four biopharmaceutical products targeting underserved medical conditions. These represent market opportunities potentially exceeding $600 M US in annual revenue for Abraxis. The transaction includes an initial strategic investment, by Abraxis, in ProMetic of $7 M US at $0.47 CDN per share as well as providing Abraxis rights to make optional investments of up to $25 M US. The transaction involves access to ProMetic's proprietary protein...
Source: Health Business Week (2008-09-19)
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