ID :
27687
Fri, 10/31/2008 - 10:24
Auther :
Shortlink :
https://www.oananews.org//node/27687
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S. Korean firm acquires Pharmexa unit
SEOUL, Oct. 31 (Yonhap) -- Kael Co., a South Korean biotechnology start-up, said Friday it has acquired Gemvax, a unit of Danish cancer-vaccine maker Pharmexa A/S.
The acquisition of Gemvax will give Kael a crucial gateway for its push to
develop a next-generation vaccine against cancer, company officials said.
Financial terms of the deal were not disclosed.
"We appreciate Pharmexa giving us the opportunity to acquire GemVax and its
technology," Kim Sang-jae, chief executive officer of Kael, said in a statement.
The cancer vaccine developed by Gemvax "is a potential blockbuster drug and we
aim to move it to the market as rapidly as possible," Kim said.
(END)
The acquisition of Gemvax will give Kael a crucial gateway for its push to
develop a next-generation vaccine against cancer, company officials said.
Financial terms of the deal were not disclosed.
"We appreciate Pharmexa giving us the opportunity to acquire GemVax and its
technology," Kim Sang-jae, chief executive officer of Kael, said in a statement.
The cancer vaccine developed by Gemvax "is a potential blockbuster drug and we
aim to move it to the market as rapidly as possible," Kim said.
(END)
