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Bristol-Meyers Squibb To Acquire Adnexus Therapeutics

Tuesday, September 25, 2007 5:00:00 AM PDT | VentureDeal Staff

WALTHAM, MA -- Pharmaceutical company Bristol-Meyers Squibb (NYSE: BMY) announced that it has entered into a definitive agreement to acquire Adnexus Therapeutics, Inc. for approximately $490 million, including potential future performance payouts.

Adnexus is a biotechnology company that is developing what it considers is a breakthrough class of protein therapeutics that it calls AdNectins. 

The company was scheduled to go public via an IPO, and will not do so assuming the transaction closes.

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