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Inflazyme to acquire Adprotech Ltd; gains new inflammation research technology and clinical programme.

Asia Africa Intelligence Wire

| April 07, 2004 | COPYRIGHT 2004 Financial Times Ltd. 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)Copyright

(From Chemical Business NewsBase - Press Release)

Inflazyme Pharmaceuticals Ltd (Inflazyme) and Adprotech Ltd, have entered into an agreement whereby, subject to necessary regulatory approvals, Inflazyme will acquire Adprotech. Inflazyme will issue about 12.7 M common shares to acquire all outstanding Adprotech shares in a deal valued at about C$ 20 M. The acquisition will give Inflazyme a new inflammation technology platform, complement inhibition, and a potential novel clinical compound being developed for the treatment of rheumatoid arthritis. The acquisition of Adprotech will further strengthen Inflazyme's position as a leader in the development of novel anti-inflammatory therapies by adding a new, innovative, technology platform, complement inhibition, to its portfolio. Inflazyme will issue about 12.7 M common shares in exchange for all of the issued and outstanding ...

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