MEDIGENE AG AGREES TO BUY U.K.'S AVIDEX LIMITED FOR $64.2 MILLION IN SHARES

The biotechnology company MediGene AG announced today that it has signed an agreement on the acquisition of the privately held biotechnology company Avidex Ltd. based in Oxford, UK. With this acquisition, MediGene will diversify and broaden its drug pipeline with several drug candidates to treat cancer and autoimmune diseases, and will add a proprietary technology platform to further fuel its future drug pipeline.
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