Issue Date: April 21, 2008
Roche will acquire Piramed Pharma
Roche will pay $160 million to acquire Piramed Pharma, a privately owned U.K. biotech company. Five-year-old Piramed focuses on therapeutics targeting PI 3-kinases, which play roles in disease progression, inflammation, and cancer cell resistance to chemotherapy. Roche will also pay $15 million at the start of Phase II clinical trials for Piramed's oncology drug candidate. Since 2005, Piramed has been developing the compound in collaboration with Genentech, in which Roche holds a majority ownership stake.
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