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Article: PPD to Invest in Celtic Therapeutics.
- Article from:
- Biotech Week
- Article date:
- November 11, 2009
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PPD, Inc. (Nasdaq: PPDI) announced it has signed an agreement to invest $100 million in Celtic Therapeutics Holdings L.P., an investment partnership organized for the purpose of identifying, acquiring and investing in a diversified portfolio of 10 to 15 novel therapeutic product candidates. Celtic Therapeutics will focus on mid-stage drug development candidates that have progressed through human proof-of-concept studies and are targeted to address unmet medical needs, seeking to advance development of these candidates to the next key product milestone, usually the beginning or end of Phase III (see also PPD, Inc.).
This investment in Celtic Therapeutics is ...