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Article: Merck Buying GlycoFi For $400M, Abmaxis For $80M.(Company overview)
- 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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Senior Staff Writer
Merck & Co. Inc. set in motion two definitive agreements to acquire privately held biotechnology companies GlycoFi Inc. and Abmaxis Inc., and $400 million for $80 million, respectively, and would pay cash for both.
The deals bring to Whitehouse Station, N.J.-based Merck glycoengineering and antibody-engineering technology platforms, and are part of the company's strategy announced last year to buyout biologic capabilities to strengthen its business and pipeline.
Both GlycoFi, of Lebanon, N.H., and Abmaxis, of Santa Clara, Calif., were founded in 2000. They have spent their time developing their respective technologies, and ...