Zeneca Increases Stake In Sugen In USA
Zeneca's US subsidiary is increasing its stake in the US biotechnology company Sugen. The purchase of $12.5 million of Sugen stock will take Zeneca's stake in the company from 12.2% to 19.99%. Zeneca first invested in the California-based company in October last year.
The deal also includes the two companies working together on an R&D project in novel areas of cancer research. This agreement extends over a period of five years, starting this year in the field of signal transduction inhibitors as potential anticancer agents.
The deal follows on quickly from Zeneca's acquisition of a 50% stake in Salick Health Care of the USA, which provides health care services to patients with cancer and other chronic diseases (Marketletter January 9).
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