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Article: Adprotech Being Acquired By Inflazyme In C$20M Deal.
- Article from:
- BIOWORLD Today
- Article date:
- November 3, 2009
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BioWorld International Correspondent
LONDON - Last week, shareholders in privately held Adprotech Ltd. agreed to be taken over by Inflazyme Pharmaceuticals Ltd. for about C$20 million (US$14.9 million) in shares.
The acquisition of Adprotech by Inflazyme, of Vancouver, British Columbia, brings aboard an anti-inflammatory platform based on complement inhibition, an associated drug targeting technology, a compound in Phase IIa trials in rheumatoid arthritis and cash of C$7 million.
It is not an immediate exit for the venture capital investors in Cambridge-based Adprotech: 3i plc, Alice Ventures, Prelude Trust and Alta Berkeley Associates. They ...