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BioAssets Development, a Wellesley based investigator of spinal applications for existing drugs, enters into $30 Million option to be acquired by Cephalon November 12, 2009

Posted by HubTechInsider in Biotech, Health Care IT, Pharmaceuticals, Venture Capital.
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Frazer, PA-based Cephalon (NASDAQ: CEPH) has agreed to pay $30 million for an option to acquire BioAssets Development Corporation, a Wellesley, MA-based company investigating spinal uses for existing and experimental drugs, according to a press release. Under the terms of the agreement, BioAssets will be eligible for an additional payment if Cephalon exercises the option, as well as for payments tied to regulatory and sales milestones.

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