Sanford J. Hillsberg Esq., substantial shareholder of Apthera AT THE TIME IT WAS ACQUIRED????
--- "As part of our business strategy, we ( Galena ) may pursue acquisitions of other complementary businesses and assets and may also may pursue strategic alliances. We have limited experience in acquiring other companies and in forming such alliances.
Apthera was our first acquisition. Mark J. Ahn, Ph.D., our President and Chief Executive Officer, served as a director of Apthera and Sanford J. Hillsberg, our Chairman of the Board, was a substantial stockholder of Apthera at the time of the acquisition and had interests in the Apthera acquisition that were different from the interests of our stockholders, generally. We may not be able to successfully integrate any acquisitions into our existing business, and we could assume unknown or contingent liabilities or become subject to possible stockholder claims in connection with any related-party or third-party acquisitions or other transactions. We also could experience adverse effects on our reported results of operations from acquisition-related charges, amortization of acquired technology and other intangibles and impairment charges relating to write-offs of goodwill and other intangible assets from time to time following the acquisition of Apthera or other acquisitions. Integration of an acquired company requires management resources that otherwise would be available for ongoing development of our existing business. We may not realize the anticipated benefits of any acquisition, technology license or strategic alliance."
Why would RXI have acquired Apthera, if it was an anticipated liability? Was it the science they were interested in or the attorney? That doesn't make any sense...