ActivX Biosciences Announces Closing of Acquisition by Kyorin

ActivX Biosciences, a biotechnology company developing advanced proteomic technologies for drug discovery and development, has announced the formal completion of its acquisition by Tokyo-based Kyorin Pharmaceutical. The acquisition agreement was signed on Dec. 1, 2004, for an aggregate price of $21,000,000. With the completion of the transaction, ActivX survives as a wholly owned subsidiary and will serve as Kyorin's drug discovery and development center in the U.S.
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