Skip to main content
Premium Trial:

Request an Annual Quote

CAT To Pursue OGS Merger Despite Celltech Share Purchase

NEW YORK, March 24 - Cambridge Antibody Technology today reaffirmed its intention to acquire Oxford GlycoSciences despite rival bidder Celltech's recent acquisition of 10 percent of OGS' outstanding shares.


The proposed merger, first announced in January, has been plagued by uncertainty since Celltech first indicated its interest in acquiring OGS in mid-February.


Today, CAT acknowledged in a statement that Celltech had acquired the OGS shares, but noted that the proposed merger requires approval by a majority of OGS shareholders at a meeting where 75 percent of the company's shares are represented. "As a result, the proposed merger of CAT and OGS can be achieved notwithstanding Celltech's recent acquisition of OGS shares," the company said.


Meanwhile, in a statement on its website, OGS said it is "continuing discussions with CAT with regard to a potential revised proposal," but is also continuing discussions "with other potentially interested third parties."

David Ebsworth, CEO of OGS, said, "There is still all to play for. We remain in active discussions with CAT with a view to obtaining a material improvement in the value of their offer."

The Scan

Mosquitos Genetically Modified to Prevent Malaria Spread

A gene drive approach could be used to render mosquitos unable to spread malaria, researchers report in Science Advances.

Gut Microbiomes Allow Bears to Grow to Similar Sizes Despite Differing Diets

Researchers in Scientific Reports find that the makeup of brown bears' gut microbiomes allows them to reach similar sizes even when feasting on different foods.

Finding Safe Harbor in the Human Genome

In Genome Biology, researchers present a new approach to identify genomic safe harbors where transgenes can be expressed without affecting host cell function.

New Data Point to Nuanced Relationship Between Major Depression, Bipolar Disorder

Lund University researchers in JAMA Psychiatry uncover overlapping genetic liabilities for major depression and bipolar disorder.