Biotech Values

[DewDiligence]

Co. specializing in aptamer anti-cancer drugs acquired

[Aptamera is a little-known private company based in Louisville, KY, of all places. The best-known player in aptamer drugs is the private firm, Achemix, which has a collaboration with EYET to develop aptamers for ophthalmology (#msg-2842395). The most famous aptamer drug is, of course, Macugen.]

http://yahoo.reuters.com/financeQuoteCompanyNewsArticle.jhtml?duid=mtfh22674_2005-01-10_08-10-02_l10...

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UK's Antisoma to buy U.S. cancer drug firm

LONDON, Jan 10 (Reuters) - British cancer specialist Antisoma Plc (ASM.L) is to acquire privately owned Aptamera Inc. for around 11.5 million pounds ($21.6 million) in shares to gain access to a novel cancer drug being developed by the U.S. firm.

Antisoma said on Monday that Aptamera's AGRO100 aptamer drug had shown promising anti-cancer effects and lower side effects in Phase I trials among patients with various cancers.

"The acquisition of Aptamera will expand our clinical portfolio to four drugs, each based on very different technology, and make us a leader in the exciting new area of anti-cancer aptamers," Antisoma Chief Executive Glyn Edwards said in a statement.

The company said it would assess which cancers to focus on in the next phase of development of AGRO100, which targets nucleolin, a protein found on the surface of many types of cancer cell.

Antisoma said it would issue 66.5 million new shares to Aptamera's shareholders as part of the deal, representing around 20 percent of its enlarged issued share capital.

Shares in the company were 1.5 percent down at 17 pence in opening trade, valuing it around 45 million pounds.
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