Triangle To Acquire Avid Corp
- Triangle Pharmaceuticals has signed an agreement to acquire privatecompany Avid Corp. The acquisition will give Triangle access to a novel protease inhibitor called DMP-450, which is currently entering Phase Ib/IIa clinical trials. Triangle will pay $1.25 million in cash plus 400,000 shares of Triangle common stock. A further 2.1 million shares are included in the deal upon reaching certain development milestones.
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