CAMBRIDGE, Mass. (AP) -- Momenta Pharmaceuticals Inc. said Monday it paid $4.5 million to acquire the Sialic Switch assets of the privately held Virdante Pharmaceuticals Inc.
Momenta, based in Cambridge, Mass., said it could make additional payments totaling $51.5 million depending on whether development and regulatory milestones are achieved.
Virdante said on its website its Sialic Switch technology improves the anti-inflammatory properties of antibodies.
Momenta officials said in a statement the technology represents "an exciting approach to potentially regulate anti-inflammatory activity of proteins."
Shares of Momenta climbed 3 cents to $16.45 in midday trading. The Dow Jones industrial average was up more than 1 percent.
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