Biotechnology Business

Abraxis BioScience Acquires Shimoda Biotech and Platco Technologies

Published in Oncology Business Week, April 27th, 2008

Abraxis BioScience, Inc. (NASDAQ:ABII), a fully integrated biotechnology company, announced the completion of the acquisition of Shimoda Biotech (Pty) Ltd and its subsidiary, Platco Technologies (Pty) Ltd, located in Plettenberg Bay, South Africa.

Shimoda Biotech focuses on the development of new pharmaceutical products by combining successful off-patent molecules with a novel cyclodextrin drug delivery platform, seeking to exploit the faster onset and improved bioavailability characteristics of that platform. Platco Technologies focuses on the development of novel platinum-based anti-cancer drugs.

Under the terms of the agreement, Abraxis acquired...

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Source: Oncology Business Week (2008-04-27)

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