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PlasmaTech Biopharmaceutical's New CEO Discusses Building a World Class Cell and Gene Therapy Company Focused on Rare Diseases

LOS ANGELES, CA / ACCESSWIRE / May 8, 2015 / This week marked several milestones for Plasmatech Biopharmaceuticals (PTBI), a Dallas and NYC-based biopharmaceutical company advancing protein biologic therapies and oncology supportive care products. Earlier in the week, business magnate George Soros acquired a 5% stake in the biotech company. Then it announced that PlasmaTech entered into a definitive agreement to acquire Abeona Therapeutics, a Cleveland-based company engaged in the development and commercialization of therapies for patients with lysosomal storage diseases. Under the terms of the agreement, PlasmaTech will issue to Abeona Therapeutic members a total of 3,979,761 common shares upon closing of the transaction, and up to an additional $9 million in performance milestones, in common stock or cash, at the Company's option. Additionally, Abeona's CEO Tim Miller now takes the helm of CEO PTBI. BioMedReports sat down with Miller to inquire about his long term strategy for PlasmaTech.

The complete interview with CEO Tim Miller is available now at BioMedReports.com

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BioMedReports is a news and research portal covering financial biotech news for the entire Healthcare Sector of the market. BioMedReports is not paid or compensated to report the news and developments of publicly traded companies. BioMedReports sells a premium product for subscribers and full disclosures and information about the stocks and news mentioned in this news release are available at BioMedReports.Com

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SOURCE: BioMedReports.Com