NEW YORK (GenomeWeb) – Protea Biosciences today announced that it has entered into an agreement to buy the research services firm VivoPharm for cash and equity.

According to the firm's 8-K filed with the SEC on April 6, Protea will acquire all shares of Hershey, Pa.-based VivoPharm and its subsidiaries for $11.2 million, including $5.4 million in cash and $5.7 million in the form of 570,053 shares of new Series A stock. Upon completion of the deal, VivoPharm will operate as a business unit of Protea, the firm said in a statement.

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