Companies / Australia
Australia's CSL To Acquire Zenyth
July 2006 | Company Finance AlertMeanwhile, listed Australian biotechs Alchemia and Meditech are to merge, in a transaction which Alchemia claims will create one of the country's strongest biotechs. Alchemia specialises in anti-angiogenic compounds, and has developed a proprietary discovery platform known as VAST. The firm's first drug candidate - an anti-cancer compound - recently entered clinical trials. Meditech is also developing a targeting system for tumours based on carbohydrates. Although the two companies have yet to commercialise any products, the AUD17mn (US$13mn) deal has garnered 90% support from Meditech's shareholders.
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