Intercardia Offers $15 Million to Acquire Transcell Technologies

Dec 21, 1998

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RESEARCH TRIANGLE PARK, NC--Drug development company Intercardia here is aggressively expanding, with the company's most recent move being to sign a letter of intent to acquire combinatorial chemistry company Transcell Technologies, Monmouth Junction, NJ. Signed in November, the deal calls for Intercardia to pay approximately $15 million in stock for Transcell, which has a $48 million deal with Merck to discover and evaluate two antibacterial compounds.

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