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Eddingpharm Acquires ACT Biotech for $95 Million

publication date: Jan 8, 2014
Eddingpharm, a China drug company known mostly for in-licensing China distribution rights, acquired all the assets of San Francisco-based ACT Biotech, including worldwide ownership of three cancer-targeting small molecule drug candidates. The most advanced of the three, Telatinib, completed a successful US Phase II trial in gastric cancer patients in 2011. It has been granted Orphan Drug status by the FDA. Total consideration for the deal, including upfront and milestone payments, may reach up to $95 million. More details....

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