Article: Arakis Providing Exit Via [pounds sterling]106.5M Sosei Acquisition.

BioWorld International Correspondent

LONDON - Sosei Co Ltd. is taking over Arakis Ltd. for [pounds sterling]106.5 million (US$187.4 million) in a cash-and-shares deal that creates an Anglo-Japanese company valued at [pounds sterling]278 million.

It will have a lead product due for approval next year and eight further products in clinical development, including one that is licensed to Novartis AG.

To date, privately held Arakis has raised [pounds sterling]49 million in three funding rounds, the most recent in September 2003, when it banked [pounds sterling]29 million. It has [pounds sterling]30 million in cash, plus an expected income stream ...

Related newspaper, magazine, and journal articles:

 
 
Newsweek Harper's Magazine The Washington Post Chicago Tribune Crain's Chicago Business PRNewswire Pediatric News The Nation Advertising Age The Economist (US) A FREE trial gives you access to over 80 million articles! Access over 6,500 publications with a FREE trial!