acquistions, pharma, Biotech
Cubist Takes Option to Acquire Illumigen
Rebecca Zacks 10/16/07
Lexington, MA-based Cubist Pharmaceuticals announced it will pay $4.7 million, plus another $1 million in research and operating costs, for an exclusive option to buy Seattle’s Illumigen Biosciences. Illumigen’s lead compound is a protein-based treatment for hepatitis C. If Cubist exercises its option it will pay $9 million upfront, plus development and regulatory milestone payments that could surpass $330 million.
