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Article: Diversa Acquiring GSK Antifungal Compounds For $8.6M In Equity.
- Article from:
- BIOWORLD Today
- Article date:
- November 4, 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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Associate Managing Editor
Diversa Corp. acquired a slate of preclinical antifungal compounds and intellectual property from GlaxoSmithKline plc in exchange for equity, and said it was restructuring a joint venture with The Dow Chemical Co.
It also released second-quarter earnings.
The three items combined to make a full 24 hours for San Diego-based Diversa. The decision behind the antifungal program acquisition "had several drivers," said Jay Short, the company's president and CEO.
"We knew of this collection because [Senior Vice President of Pharmaceutical R&D Gary Woodnutt] was previously vice president of anti-infectives at ...