Issue Date: June 2, 2008
Bristol-Myers Squibb Will Acquire Kosan
Bristol-Myers Squibb has agreed to acquire the cancer therapeutics company Kosan Biosciences for about $190 million in cash. Kosan is one of the pioneers in the field of heat shock protein 90 inhibitors (C&EN, Feb. 26, 2007, page 15) and has a compound, tanespimycin, in Phase III clinical trials. It also develops epothilones, a class of microtubule stabilizers. "Kosan's technology, coupled with our development and commercialization capabilities, will result in new treatment options for patients," says Bristol-Myers CEO James M. Cornelius.
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