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Business
Osi to Buy Tech Platform
June 28, 2004
| A version of this story appeared in
Volume 82, Issue 26
Prosidion, a subsidiary of OSI Pharmaceuticals, will acquire a platform of dipeptidyl peptidase IV technology from the German firm Probiodrug for $35 million plus future milestones. The deal includes Probiodrug's P93/01, a drug set to enter Phase II clinical trials for the treatment of type 2 diabetes. To finance the acquisition and fund R&D, OSI will invest a further $50 million in Prosidion, bringing its ownership of the subsidiary to 96%.
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