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Article: EPIX to acquire Predix for $90m.
- Article from:
- Globes
- Article date:
- April 3, 2006
CopyrightCOPYRIGHT 2006 Globes. 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: Gali Weinreb
Apr. 3--Cambridge, Mass-based EPIX Pharmaceuticals Inc. (NASDAQ: EPIX), a developer of innovative pharmaceuticals for magnetic resonance imaging (MRI), will acquire Predix Pharmaceuticals Holdings Inc.
EPIX will acquire Predix in a transaction valued at approximately $90 million, including the assumption of net debt at closing. In addition, Predix shareholders will be paid a possible milestone payment of $35 million in cash, stock or a combination of both based on the achievement of certain clinical or strategic milestones within a specified period of time.
Upon completion of the merger EPIX will issue to Predix ...