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Astex to Merge with MetaGen Pharma

NEW YORK, Oct. 31 (GenomeWeb News) - Astex of Cambridge, UK announced today that it will merge with Berlin-based metaGen Pharmaceuticals.

 

Under the terms of the agreement, Astex will acquire all of metaGen's shares, and existing shareholders in metaGen will become shareholders in Astex. Astex said that metaGen will be consolidated into its Cambridge facilities, and that metaGen's capabilities will be used in cancer research.

 

"The opportunity to merge with metaGen was compelling given that it provides Astex with the key assets to fuel the next stage of our growth including cancer drug development capabilities and a broader cash basis. In addition, it builds on our existing relationship with Schering," Astex CEO Timothy Haines said in a statement.

 

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