Issue Date: October 26, 2009
Oxigene To Acquire Vaxgen In Stock Swap
Oxigene, a biopharmaceutical company developing treatments for cancer and eye diseases, will acquire VaxGen, a biopharmaceutical firm with cell culture and microbial biologic production expertise, in an exchange of common stock. The deal will give Oxigene a cash infusion of about $33 million. VaxGen suffered a setback in 2006 when it lost an $878 million contract to manufacture 75 million doses of an anthrax vaccine for the U.S. government.
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