from the May 2014 issue

Hyperion acquires Andromeda for up to $570m

The Clal Biotechnology subsidiary has an immune intervention therapy for Type 1 diabetes in a Phase III clinical trial.

Clal Biotechnology Industries Ltd. (TASE: CBI) has sold subsidiary Andromeda Biotech Ltd. to Hyperion Therapeutics Inc. (Nasdaq: HPTX) for $20 million in cash and shares and up to $550 million in regulatory and commercial milestone payments. Andromeda's DiaPep277 is an immune intervention therapy for Type 1 (juvenile) diabetes. The drug is undergoing a Phase III clinical trial on adult patients, with results due in the first quarter of 2015.

Reprinted from the Israel High-Tech & Investment Report May 2014

Click HERE to request further information.
Click HERE to go BACK.