Aphton Buys Austrian Drug Company

Aphton Corp. completed its acquisition of Igeneon AG of Vienna, Austria, Friday in a stock deal valued at about $27 million. Ingeneon makes cancer pain medicines. Under the terms of the deal, Igeneon equity holders will receive 21.5 million shares of Aphton common stock. Igeneon AG will become a wholly owned subsidiary of Aphton. The purchase will strengthen the Philadelphia biopharmaceuticals company's pipeline of experimental cancer treatment products.

Philadelphia Business Journal (http://www.bizjournals.com/philadelphia/stories/2005/03/21/daily42.html)