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Acquisition Of KuDOS Pharmaceuticals Will Enhance AstraZeneca?s ... - PharmaLive.com (press release)

LONDON, Dec. 23, 2005-AstraZeneca today announced an agreement to acquire KuDOS Pharmaceuticals Limited, a privately-owned UK biotechnology company, focused on the discovery and development of oncology therapies based on the inhibition of DNA repair. The total share capital of The Company will be purchased for $210m cash, subject to debt and working capital adjustment. The transaction is expected to close early in 2006. Acquisition of KuDOS Pharmaceuticals represents an important strategic step for AstraZeneca: strengthening its portfolio of promising Cancer treatments from external opportunities and also demonstrating its commitment to discover, develop and bring to market innovative therapies.This transaction provides AstraZeneca with a widely-recognised expert group and Technology platform in an area of research that complements internal capabilities in oncology, one of the company’s key therapy areas. The DNA repair platform developed by KuDOS Pharmaceuticals, in association with its founder Professor Stephen Jackson of Cambridge University, includes several different approaches towards inhibition of enzymes involved in the responses to various types of DNA damage. DNA repair inhibitors have the potential to kill Cancer cells either as stand-alone therapy or by enhancing the efficacy of chemo- and radio-therapies.The acquisition of KuDOS Pharmaceuticals augments AstraZeneca’s portfolio with clinical and pre-clinical compounds and - More available

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