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Article: Adprotech Being Acquired By Inflazyme In C$20M Deal.(Inflazyme Pharmaceuticals Ltd)
- Article from:
- BIOWORLD Today
- Article date:
- April 13, 2004
- Author:
CopyrightCOPYRIGHT 2004 A Thomson Healthcare Company. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Nuala Moran, BioWorld International Correspondent
LONDON - Last week, shareholders in privately held Adprotech Ltd. agreed to be taken over by Inflazyme Pharmaceuticals Ltd. for about C$20 million (US$14.9 million) in shares.
The acquisition of Adprotech by Inflazyme, of Vancouver, British Columbia, brings aboard an anti-inflammatory platform based on complement inhibition, an associated drug targeting technology, a compound in Phase IIa trials in rheumatoid arthritis and cash of C$7 million.
It is not an immediate exit for the venture capital investors in Cambridge-based Adprotech: 3i plc, Alice Ventures, Prelude Trust and Alta ...