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Biotech / Medical : DPII: Discovery Partners Int'l
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To: Mike McFarland who wrote (93)7/6/2006 1:09:40 PM
From: Mike McFarland  Read Replies (1) of 111
 
Discovery Partners International Announces Completion of Sale of Drug Discovery Service Operations to Galapagos NV
for $5.4 million in cash. The closing of this transaction
has added to DPI's Net Cash balance for purposes of
determining the exchange ratio to be used in DPI's previously
announced merger with Infinity Pharmaceuticals, both by
increasing DPI's cash position as well as by reducing the
liabilities that will be deducted from its cash position in
calculating the Net Cash balance under its merger agreement
with Infinity.

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