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Proteome Systems to Acquire Eukarion in Cash-and-Shares Deal

NEW YORK, Dec. 17 (GenomeWeb) - Proteome Systems of Sydney, Australia, will acquire privately held Eukarion of Bedford, Mass. in a cash-and-shares transaction expected to close in February, the companies said today.

 

The majority of the purchase is payable in 1.7 million Proteome Systems shares based on meeting milestones in clinical development, licensing revenues, and drug product sales, the company said in a statement.

 

Proteome Systems will acquire a suite of pre-clinical antioxidant drug candidates, and staff, which will move to Proteome Systems Boston facility, the company said.

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