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Article: Bio-Response Inc. enters agreement with Baxter Healthcare Corp. to sell assets.
- Article from:
- PR Newswire
- Article date:
- January 15, 1990
CopyrightCOPYRIGHT 1990 PR Newswire Association LLC. 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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BIO-RESPONSE ENTERS AGREEMENT WITH BAXTER HEALTHCARE TO SELL ASSETS
HAYWARD, Calif., Jan. 15 /PRNewswire/ -- Bio-Response, Inc. announced today that is has entered into a definitive agreement to sell substantially all of its assets to Baxter Healthcare Corporation for a cash purchase price of approximately nine million dollars. Baxter uses the company's monoclonal antibodies in the production of its Hemofil(R) M clotting protein for the treatment of hemophilia.
It is expected that substantially all of the sale proceeds will be distributed to the creditors of Bio-Response, and that Bio-Response will cease operations following completion of the sale, ...