EpiCept completes acquisition of Maxim
EpiCept says it has completed its acquisition of fellow USA-based Maxim Pharmaceuticals. The new firm will retain the EpiCept name and trade on the Nasdaq. Under the terms of the deal, valued at around $136.0 million, EpiCept shareholders have 72% of the merged company and Maxim's former investors 28%. The firm's combined portfolio includes one product candidate targeted for 2006 registration in Europe, three in advanced development, three in Phase II, one in Phase Phase I and one to enter Phase I.
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