NEW YORK, Nov. 1 – German pharmaceutical company Altana has agreed to make an equity investment of 34.2 million euros ($31.1 million) in GPC Biotech, GPC said Thursday.

GPC of Munich said it would issue 1.69 million of its shares to Altana at 20.25 euros a share. Following the transaction, Altana will hold an 8.3 percent stake in GPC, making it the second largest shareholder in the company.

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