NEW YORK, April 23 – Knockout-mouse company Exelixis has agreed to acquire Germany’s Artemis Pharmaceuticals, in a stock-for-stock transaction valued at more than $24 million, the companies said Monday.

"The industry has come to realize the power of identifying and validating targets in living organisms where complex functional relationships that are too complicated or unexpected to predict by other methods can be identified,” George Scangos, Exelixis CEO, said in a statement.

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