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Clinical Data Buys Avalon Pharma for $10M

Ryan McBride 10/28/08

Clinical Data (NASDAQ:CLDA), a Newton, MA-based biotech firm, announced today that it has acquired Avalon Pharmaceuticals (NASDAQ:AVRX), headquartered in Germantown, MD, in an all-stock deal valued at $10 million. Avalon provides Clinical Data with its pipeline of cancer biomarkers and therapeutics as well as its discovery technology to rapidly identify biomarkers for the development of oncology diagnostics and drugs.

Ryan McBride is Xconomy's correspondent. You can reach him at rmcbride@xconomy.com, or follow him on Twitter at http://twitter.com/Ryan_McBride.

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