Nanotechnology Now

Our NanoNews Digest Sponsors
Heifer International



Home > Press > Harris & Harris Group Notes Amgen to Acquire BioVex

Abstract:
Harris & Harris Group, Inc. (NASDAQ: TINY) notes that Amgen and BioVex Group, Inc., today announced that the companies have entered into a definitive acquisition agreement under which Amgen has agreed to acquire BioVex Group, a privately held, venture-funded, biotechnology company headquartered in Woburn, Mass. BioVex Group is developing OncoVEXGM-CSF, a novel oncolytic vaccine in Phase 3 clinical development, that may represent a new approach to treating melanoma and head and neck cancer.

Harris & Harris Group Notes Amgen to Acquire BioVex

New York, NY | Posted on January 25th, 2011

Under terms of the agreement, Amgen will pay up to $1 billion: $425 million in cash at closing and up to $575 million in additional payments upon the achievement of certain regulatory and sales milestones. The transaction has been approved by the boards of directors of each company. It is subject to customary closing conditions, including regulatory approvals, and is expected to close in the first quarter of 2011.

Following the completion of the transaction, BioVex Group will become a wholly owned subsidiary of Amgen.

Harris & Harris Group is an investor in privately held BioVex Group. Harris & Harris Group made its initial investment in BioVex Group in September 2007.

This press release may contain statements of a forward-looking nature relating to future events. These forward-looking statements are subject to the inherent uncertainties in predicting future results and conditions. These statements reflect the Company's current beliefs, and a number of important factors could cause actual results to differ materially from those expressed in this press release. Please see the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2009, as well as subsequent filings, filed with the Securities and Exchange Commission for a more detailed discussion of the risks and uncertainties associated with the Company's business, including but not limited to the risks and uncertainties associated with venture capital investing and other significant factors that could affect the Company's actual results. Except as otherwise required by Federal securities laws, the Company undertakes no obligation to update or revise these forward-looking statements to reflect new events or uncertainties. The reference to the website www.HHVC.com has been provided as a convenience, and the information contained on such website is not incorporated by reference into this press release.

####

About Harris & Harris Group
Harris & Harris Group is a publicly traded venture capital company that invests in nanotechnology and microsystems. Detailed information about Harris & Harris Group and its holdings can be found on its website at www.HHVC.com.

For more information, please click here

Copyright © Harris & Harris Group

If you have a comment, please Contact us.

Issuers of news releases, not 7th Wave, Inc. or Nanotechnology Now, are solely responsible for the accuracy of the content.

Bookmark:
Delicious Digg Newsvine Google Yahoo Reddit Magnoliacom Furl Facebook

Related News Press

News and information

Getting to the root of tooth replantation challenges: Researchers from Tokyo Medical and Dental University (TMDU) report a delivery system that promotes healing in tooth replantation in rats September 17th, 2021

Researchers reveal multi-path mechanism in electrochemical CO2 reduction September 17th, 2021

Scientists demonstrate pathway to forerunner of nanotubes that could lead to widespread industrial fabrication September 17th, 2021

Silver nanoparticles boost performance of microbial fuel cells September 17th, 2021

Nanomedicine

New nano particles suppress resistance to cancer immunotherapy September 17th, 2021

Getting to the root of tooth replantation challenges: Researchers from Tokyo Medical and Dental University (TMDU) report a delivery system that promotes healing in tooth replantation in rats September 17th, 2021

Engineering various sources of loss provides new features for perfect light absorption: "Loss is ubiquitous in nature, and by better understanding it, we make it more useful" September 10th, 2021

Leibniz Prize winner Professor Dr. Oliver G. Schmidt moves to Chemnitz University of Technology: President Professor Dr. Gerd Strohmeier refers to an 'absolute top transfer' September 10th, 2021

Announcements

Getting to the root of tooth replantation challenges: Researchers from Tokyo Medical and Dental University (TMDU) report a delivery system that promotes healing in tooth replantation in rats September 17th, 2021

Researchers reveal multi-path mechanism in electrochemical CO2 reduction September 17th, 2021

Scientists demonstrate pathway to forerunner of nanotubes that could lead to widespread industrial fabrication September 17th, 2021

Silver nanoparticles boost performance of microbial fuel cells September 17th, 2021

Nanobiotechnology

New nano particles suppress resistance to cancer immunotherapy September 17th, 2021

Getting to the root of tooth replantation challenges: Researchers from Tokyo Medical and Dental University (TMDU) report a delivery system that promotes healing in tooth replantation in rats September 17th, 2021

Leibniz Prize winner Professor Dr. Oliver G. Schmidt moves to Chemnitz University of Technology: President Professor Dr. Gerd Strohmeier refers to an 'absolute top transfer' September 10th, 2021

Imaging single spine structural plasticity at the nanoscale level: Researchers at the Max Planck Florida Institute for Neuroscience (MPFI) have developed a new imaging technique capable of visualizing the dynamically changing structure of dendritic spines with unprecedented resol September 3rd, 2021

Acquisitions/Mergers/Splits

The concept of creating «brain-on-chip» revealed: A team of scientists is working to create brain-like memristive systems providing the highest degree of adaptability for implementing compact and efficient neural interfaces, new-generation robotics, artificial intelligence, perso May 29th, 2020

180 Degree Capital Corp. Life Science Portfolio Company Enters Into Definitive Agreement to be Acquired May 6th, 2020

180 Degree Capital Corp.’s Portfolio Company, Synacor, Inc., Agrees to Merge with Qumu Corporation in All-Stock Transaction February 11th, 2020

Combination of Nanometrics and Rudolph Technologies to Create Onto Innovation October 16th, 2019

NanoNews-Digest
The latest news from around the world, FREE




  Premium Products
NanoNews-Custom
Only the news you want to read!
 Learn More
NanoStrategies
Full-service, expert consulting
 Learn More











ASP
Nanotechnology Now Featured Books




NNN

The Hunger Project