Grifols (GRFS -1.6%) says that Aradigm (ARDM.OB) has received shareholder approval for its license agreement giving GRFS access to Aradigm's proprietary formulations of inhaled ciprofloxacin, which is used for the treatment of severe respiratory diseases, including non-cystic fibrosis bronchiectasis. In conjunction with the licensing agreement, GRFS will acquire 35% of Aradigm's common stock at a price per share of $0.124 for a total investment of approximately $26M.
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