Monday, December 11, 2006

MacroMed Acquired By Protherics

Salt Lake City, Utah-based MacroMed, a drug development and manufacturing firm, said this afternoon that it has been acquired by UK-based Protherics PLC. The deal is worth $25M in stock. Protherics is a biopharmaceutical development firm. MacroMed said that the 33 person firm will remain in West Valley City. MacroMed is developing treatments for esophageal and brain cancer. MacroMed said that the merger wil help ensure that the firm's OncoGel product progresses toward commercialization. The acquisition is expected to close in early 2007.