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Medicines Co Signs Agreement To Acquire ProFibrix B.V


Tuesday, 4 Jun 2013 06:04am EDT 

Medicines Co and ProFibrix B.V. announced an agreement for The Medicines Company to purchase all of the outstanding capital stock of ProFibrix B.V. subject to The Medicines Company's satisfactory review of the pending Phase 3 clinical trial results of ProFibrix's lead biologic, Fibrocaps. Under the terms of the agreement, The Medicines Company will pay ProFibrix a $10 million upfront option payment. If the Medicines Company is satisfied with the trial results of FINISH-3 and determines to proceed, it will purchase all of the outstanding capital stock of ProFibrix at closing. Otherwise, The Medicines Company may terminate the transaction with no further obligation to the ProFibrix shareholders. ProFibrix shareholders could receive additional payments related to achieving US and European regulatory approvals and sales milestones. BofA Merrill Lynch served as financial advisor and WilmerHale served as legal advisor for the transaction for The Medicines Company. Barclays served as financial advisor and Dechert served as legal advisor for the transaction for ProFibrix. 

Company Quote

27.46
0.13 +0.48%
4:00pm EDT