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Transgene Biotek takes over US based Marillion
6 August 2010: Transgene Biotek has signed an agreement to acquire Marillion Pharmaceuticals Inc, a US Oncology Biopharmaceuticals company based in Exton, Pennsylvania, in an all-share deal.
The transaction is likely to accelerate growth of the company business and broaden scope of drug development.
The merger of the two companies and Marillion's products with Transgene's own drug pipeline are expected to create an oncology platform and products for the new merged company. The new entity will be able to play a role in licensing deals with multinational pharmaceutical companies as also develop and commercialise drugs. The revenues are likely to come from Marillion's presence in the US and network of collaborators in Europe.
According to sources, Marillion's portfolio includes three clinical stage products useful in oncology and complements Transgene's portfolio. The latter has earlier out-licensed a manufacturing process to Dr Reddy's Laboratories and its recombinant Hepatitis B vaccine technology to vaccine producer Serum Institute of India.
Source: Hindu Business Line