Tue, Oct. 13, 8:55 AM
- Progenics Pharmaceuticals (NASDAQ:PGNX) makes a bid for Lund, Sweden-based EXINI Diagnostics AB, a developer of software solutions for medical decision support based on advanced image analysis.
- CEO Mark Baker says, "This transaction significantly advances our efforts to develop products which transform the way we diagnose, monitor and treat cancer. EXINI's expertise in software design for imaging products will be invaluable as we develop our imaging toolkit for prostate cancer centered on our 1404 and PyL programs and then more broadly as we seek to empower patients and the physicians with a suite of products designed to help guide treatment decisions."
- Under the terms of the offer, Progenics proposes to purchase all EXINI equity for $7M in cash. The bid has been approved by Progenics' board and unanimously recommended by EXINI's board.
Progenics Pharmaceuticals Inc is engaged in the development of medicines for oncology. The Company develops products for the treatment of prostate cancer, opioid-induced constipation, or OIC, as well as OIC for non-cancer pain.
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