Clinical Data Buys Avalon Pharma for $10M

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.

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