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Galena Biopharma, Inc. Message Board

  • maxpain42 Dec 10, 2012 5:21 PM Flag

    -------------- more for DANNY Boy in Denver

    Scottsdale-based Biotech Apthera Inc. sold

    by Ken Alltucker - Mar. 31, 2011 05:23 PM
    The Arizona Republic

    Worcester, Mass.-based RXi Pharmaceuticals has signed a deal to purchase Scottsdale-based biotechnology company Apthera Inc.

    Apthera shareholders will get about 4.8 million shares of RXi's common stock. The deal also calls for additional payments if Apthera's breast cancer vaccine meets development and commercial milestones.

    Apthera President and Chief Executive Officer Mark Schwartz will become RXi's executive vice president and chief operating officer. Mark Ahn, a board member for RXi, will be the company's chief executive officer.

    Apthera expects its NeuVax vaccine for breast cancer patients will be tested in phase three clinical trials during the first half of 2012.

    RXi's shares closed Thursday at $1.38, down 12 cents.

    Sentiment: Strong Sell

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