Posted by Jack Davis on July 1st, 2009 at 2:05 pm | Categorized as Docu-Drama, Maxygen | Tagged as Astellas Pharma, Drug development, Issac Stein, Maxygen, Mergers and Acquisitions, Russell Howard
Maxygen, the Redwood City biotech company that hired Lazard last October to help it explore “strategic options” about the same time it laid off 30 percent of its staff, announced plans today for a deal with Astellas Pharma of Japan that will transfer most of its research and development operations and personnel to the a new joint venture funded by $10 million co-payments by both companies.
Maxygen will contribute substantially all of its Read the rest of this entry »
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Posted by Jack Davis on June 29th, 2009 at 1:28 pm | Categorized as Docu-Drama, Neurogesx | Tagged as Astellas Pharma, Bruce Peacock, Delistings, Governance, Neurogesx, Qutenza
Bruce Peacock resigned today from the board of directors after serving less than two years there, where he also chaired its audit committee and was deemed its “financial expert” as defined by SEC rules. The resignation would leave the company with only two directors serving on its audit committee, a technical violation of a Nasdaq requirement that it be staffed by at least three independent directors.
Peacock, a venture partner at SV Life Sciences Advisers since Read the rest of this entry »
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Posted by Jack Davis on March 18th, 2009 at 5:18 pm | Categorized as CV Therapeutics, Docu-Drama, Gilead Sciences | Tagged as Astellas Pharma, CV Therapeutics, Gilead Sciences, Mergers and Acquisitions
Louis Lange, the chief executive of CV Therapeutics, agreed in effect to sell his entire stake in the company to Gilead Sciences as an “inducement” to that company to enter into an agreement to buy CV Therapeutics for $20 a share, according to a filing today with the SEC. Lange owns about Read the rest of this entry »
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Posted by Jack Davis on February 27th, 2009 at 4:11 pm | Categorized as CV Therapeutics, Docu-Drama | Tagged as Astellas Pharma, CV Therapeutics, hostile takeovers, Posion pill
Astellas Pharma is appealing directly to the stockholder of CV Therapeutics, offering to give them $16 a share, an offer it has unsuccessfully made twice before to CV’s board, most recently a week ago.
“While we continue to prefer to reach a negotiated agreement Read the rest of this entry »
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Posted by Jack Davis on February 20th, 2009 at 6:26 pm | Categorized as Biotech, CV Therapeutics, Mergers and Acquisitions | Tagged as Astellas Pharma, CV Therapeutics, Mergers and Acquisitions, Poison pill
CV Therapeutics, the Palo Alto maker of the chest-pain treatment drug, Ranexa, said Friday the company’s board turned down an offer to buy it for $16 a share from Japan’s second-largest drug maker, Astellas Pharma.
We posted last month about the first offer Read the rest of this entry »
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Posted by Jack Davis on January 30th, 2009 at 2:21 pm | Categorized as CV Therapeutics, Poison pill | Tagged as Astellas Pharma, CV Therapeutics, Mergers and Acquisitions, Posion pill, Ranexa
The board of directors at CV Therapeutics decided to extend by a year the shareholders rights plan they have in place to fend off hostile takeovers. The plan, otherwise known as a poison pill, was set to expire Read the rest of this entry »
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