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New Bids for Oxford GlycoSciences Expected

NEW YORK, March 31 - British biotech investors Sir Christopher Evans and Alan Goodman are considering a joint bid for Oxford GlycoSciences that would top the current offers by Celltech and Cambridge Antibody Technology, a source close to Evans told GenomeWeb today.

 

OGS said last week that three bidders besides Celltech and CAT have shown an interest in the company, including an international pharmaceutical company, a US-based biotechnology company, and a European private equity house.

 

So far, two bids are on the table: Celltech made an all-cash offer of £101.4 million ($160 million) in February, while CAT's merger offer from January, worth about $174 million at the time, has since decreased in value below Celltech's.

 

Today was the first closing date for Celltech's offer, but neither OGS nor Celltech were able to confirm the outcome so far.