Adherex Technologies, Inc.

GSK makes equity investment in oncology company

Published in Healthcare Mergers, Acquisitions and Ventures Week, August 20th, 2005

Adherex Technologies, Inc., (AHX), a biopharmaceutical company with a broad portfolio of oncology products under development, announced that the company has entered into a licensing and development agreement with GlaxoSmithKline (GSK) for the in-license by Adherex of GSK's oncology product, eniluracil, and an option for GSK to license Adherex's lead biotechnology compound, ADH-1 (Exherin).

In addition, GSK has invested US$3 million in Adherex's previously announced private placement.

Under the agreement, Adherex received an exclusive license to eniluracil for all indications, and GSK retains options to buy back the compound at various points in time...

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Source: Healthcare Mergers, Acquisitions and Ventures Week (2005-08-20)

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