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Article: Interleukin Grows Portfolio Via Buyout, $30M Financing.
- 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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Staff Writer
In an effort to speed up progress on its genetic testing portfolio and its planned therapeutic work, Interleukin Genetics Inc. acquired consumer products firm Alan James Group LLC and secured $30 million in financing.
Interleukin, which had consulted with Alan James earlier this year on a potential commercial opportunity, decided to acquire the company and its assets for an up-front payment of $7 million cash and $500,000 in stock, plus an additional $1.5 million cash and about $9.25 million in stock if Alan James achieves certain earnings milestones between 2007 and 2009.
Alan James, of Boca Raton, Fla., which sells nutraceuticals ...