It was announced today that Bristol-Meyer Squibb and Adnexus Therapeutics have an agreement where Bristol-Meyers will acquire Adnexus. Adnexus Therapeutics, a privately held company, is the developer of a new therapeutic class of biologics called Adnectins.
"Bringing Adnexus into the Bristol-Myers Squibb family builds upon a successful and productive collaboration between the two companies in oncology and is an important step in accelerating the strategic transformation of our pharmaceutical business to a biopharma business model," said Jim Cornelius, chief executive officer, Bristol-Myers Squibb.
Adnexus will become a subsidiary of Bristol-Meyer Squibb and remain based in Waltham, Mass. The acquisition is still subject to regulatory approval.
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Posted by: Greg | September 24, 2007 5:31 PM | Permalink to Comment