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Article: Aceras BioMedical Portfolio Company Acquired by BioMarin.
- Article from:
- Blood Weekly
- Article date:
- November 12, 2009
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Rodman & Renshaw Capital Group, Inc. (NASDAQ: RODM) announced that its affiliate, Aceras BioMedical LLC (Aceras), has sold Huxley Pharmaceuticals Inc. (Huxley), a portfolio company, to BioMarin Pharmaceutical Inc. (NASDAQ: BMRN). Huxley was established by Aceras in August 2008 with a focus on developing therapeutic products for rare diseases of the nervous system (see also Rodman & Renshaw Capital Group, Inc.).
Under the terms of the agreement, BioMarin paid Huxley stockholders $15.0 million. An additional $7.5 million is payable upon the achievement of regulatory milestones. Further, Huxley stockholders may also receive up to an additional $36 million in ...