deals, acquisitions, Biotech

Emergent BioSolutions Buys Protein Sciences for $78M

Gregory T. Huang 5/27/08

Emergent BioSolutions, based in Rockville, MD, announced today an agreement to acquire the assets and operations of Meriden, CT-based Protein Sciences, a maker of flu vaccines, in a deal worth up to $78 million. Emergent will pay up to $28 million in cash, $20 million in stock, and up to $30 million for commercialization milestones and sales of Protein Sciences’ FluBlok vaccine.

Gregory T. Huang is the Editor of Xconomy Seattle. You can e-mail him at gthuang@xconomy.com or call 206-624-2249.