Business
Acquisition(s)
Acquisition(s).
About this update from Avacta Group Plc
[{"type":"text","content":"\n \nNOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, IN OR INTO\nOR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE\nRELEVANT LAWS OF SUCH JURISDICTION\n\n London, 9 January 2009\n\n RECOMMENDED ALL SHARE OFFER \n\n by \n\n Avacta Group plc(\"Avacta\") \n\n for \n\n Curidium Medica plc(\"Curidium\") \n\n (TO BE EFFECTED BY MEANS OF A SCHEME OF ARRANGEMENT) \n\nSummary\n\nThe boards of Avacta and Curidium are pleased to announce that they have today\nreached agreement on the terms of a recommended all share offer (the\n\"Recommended Offer\") by Avacta for the entire issued and to be issued ordinary\nshare capital of Curidium.\n\nThe combination of Avacta with Curidium is intended to create a stronger\ndiagnostics business within the Enlarged Group delivering new technology and\ntests in the important areas of point-of-care human diagnostics and\npersonalised medicine. The boards of Avacta and Curidium believe that the\nbusiness of the Enlarged Group will benefit from the combination of Avacta's\nexpertise in developing new technology products and services, and its ability\nto commercialise diagnostics intellectual property, with Curidium's expertise\nin the biology of disease and personalised medicine, underpinned by Curidium's\nexisting cash resources.\n\nThe Enlarged Group will have opportunities to generate long term value in\nspecialised fields as well as near term opportunities for revenue growth\nthrough:\n\n * Avacta's current contract services business and imminent first product\n launches;\n \n * Curidium's development of diagnostic tests in schizophrenia and its\n commercial partnership with Takeda Research International Inc to develop\n similar diagnostic tests in major depressive disorder;\n \n * opportunities to commercialise diagnostic tests through Avacta's contract\n services business, and through the development of novel diagnostic\n technologies to deliver tests in the clinic or at home;\n \n * accelerating the development of some of Avacta's prognostic and diagnostic\n products by applying Curidium's expertise in biostatistics and\n bioinformatics with the aim of getting these products to market sooner, and\n \n * the expertise of the Enlarged Group in delivering solutions to the high\n value problem of rescuing failed drug compounds for pharmaceutical\n companies.\n ...