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Article: Archemix Nails Down Two Deals; $29.8M From Merck.
- Article from:
- BIOWORLD Today
- Article date:
- November 3, 2009
CopyrightCOPYRIGHT 2009 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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West Coast Editor
Aptamer-focused Archemix Inc. added to a deal spree that tapered at the start of the year, and found two nice fits overseas, including a cancer pact worth $29.8 million in up-front equity from Merck KGaA, plus an option to buy more stock when the firm goes public.
"It's very large and much more strategic" than the previous deal with Merck, said Errol De Souza, president and CEO of Archemix. The latest deal includes a co-development and co-promotion option on any of the products being developed on a split cost and profit-sharing basis in the U.S.
"This is the first time we've made such a deal in a broad area - it could be for ...
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