Adventrix to purchase SD Pharmaceuticals
San Diego, USA-based biotechnology company Adventrix Pharmaceuticals says it has agreed to purchase fellow US firm SD Pharmaceuticals, a privately- held drug developer, in an all-stock transaction. Adventrix added that it would issue around 2.1 million of common stock to SD Pharma shareholders worth around $10.3 million. Adventrix says it will gain the intellectual property rights to eight oncology and infectious disease drug candidates.
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