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Biotech / Medical : Munch-a-Biotech Today -- Ignore unavailable to you. Want to Upgrade?


To: Spekulatius who wrote (994)4/30/2001 6:49:30 AM
From: Micawber  Read Replies (1) | Respond to of 3158
 
Vertex Pharmaceuticals to Acquire Aurora Biosciences

Vertex to Integrate Aurora's Core Strengths in Cell Assay Development and Ultra High Throughput Screening to Accelerate Drug Discovery in Gene Families

SAN DIEGO and CAMBRIDGE, Mass., April 30 /PRNewswire/ -- Vertex Pharmaceuticals Incorporated (Nasdaq: VRTX - news) and Aurora Biosciences Corporation (Nasdaq: ABSC - news) announced today that they have signed a definitive agreement whereby Vertex will acquire Aurora in a stock-for-stock transaction. The fully-diluted equity value of the transaction is approximately $592 million. The agreement will unite Aurora's industry-leading assay development, screening and cell biology capabilities with Vertex's integrated drug discovery expertise, creating a comprehensive, scalable platform for systematically accelerating drug candidate output in target-rich gene families.

biz.yahoo.com