Issue Date: June 18, 2012
Upsher-Smith To Buy Biotech Proximagen
Upsher-Smith has agreed to acquire Proximagen Group, a U.K. biotech firm focused on developing therapeutics for inflammation and diseases of the central nervous system. Upsher-Smith, a Minnesota-based specialty drug maker, is paying $347 million plus up to $208 million more depending on the success of two Proximagen drugs in development. Upsher-Smith has been a minor shareholder of Proximagen, as well as a commercial partner, since July 2008. Proximagen, which has 15 drug research programs, started up in 2003 as a spin-off from King’s College London.
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