Ventana snaps up Spring Bioscience
This article was originally published in The Gray Sheet
Executive Summary
Tissue-based cancer diagnostics firm Ventana gains next generation rabbit monoclonal antibodies and other reagents to aid development of companion diagnostics for use with drugs through its $28.9 million cash purchase of Spring Bioscience. Announced Sept. 5, the deal for Fremont, Calif.-based Spring Bioscience will include up to an additional $11.7 million in milestone payments over the next two years - which could put its total value at $40.6 million. As a result of the purchase, Ventana increased its 2008 revenue forecast by $7 million - to a range of $377 million-$392 million. Ventana itself remains subject to a hostile takeover attempt by Roche that values the company at $3 billion (1"The Gray Sheet" Aug. 27, 2007, In Brief)...
You may also be interested in...
Roche’s Ventana bid advances in court
Ventana Medical Systems is preliminarily enjoined from using certain anti-takeover provisions to avert Roche's $3 billion hostile bid for the Tucson-based cancer diagnostics firm under an Arizona federal district court decision Aug. 21. Swiss firm Roche launched its $75-per-share tender offer for Ventana June 27, and has extended the offer's expiration date from Aug. 23 to Sept. 20. The offer represents a 44% premium over Ventana's last stock closing price before the bid was announced, although the market price has since soared as high as $88. Ventana says it remains "steadfast" in its belief that Roche's bid is "wholly inadequate" (1"The Gray Sheet" July 2, 2007, p. 10)...
Cosmetic And Personal Care Trademark Review: 16 April
Personal care and cosmetic product trademark filings compiled from the Official Gazette of the US Patent and Trademark Office, Class 3.
Health And Wellness Weekly Trademarks Review: 16 April
Trademarks are registered and published for opposition with the US Patent and Trademark Office and are published weekly in the agency's Official Gazette.