Navigation Links
Insmed Sells Follow-on Biologics Platform to Merck & Co., Inc. for Gross Proceeds of $130 Million
Date:2/12/2009

. Geoffrey Allan, President and CEO of Insmed. "We are pleased that over the past two years our team has been successful in developing such a valuable asset, which, as a result of this agreement, will generate a substantial return to the Company."

"This transaction will transform and strengthen our balance sheet in a completely non-dilutive fashion, and provides us with substantial financial flexibility in a market where cash, especially for small biotech companies, is scarce," continued Dr. Allan.

The proceeds from the transaction will be used to support the continued development of IPLEX(TM), and the Company will carefully evaluate other options, which could include the distribution of a portion of the cash to shareholders.

As of December 31, 2008, Insmed had $2.4 million in cash on hand with an ongoing net cash burn of approximately $1.2 million per month. This transaction, in accordance with Virginia corporate law, does not require a shareholder vote, though it is conditional on certain closing requirements, including obtaining necessary consents.

RBC Capital Markets served as exclusive financial advisor to Insmed on the transaction and the review of strategic alternatives, and provided a fairness opinion to the Company's Board of Directors.

Conference Call

Insmed will host a conference call today at 8:30 AM ET in order to further discuss this transaction. To participate in today's 8:30 AM ET live conference call, please dial 800-891-3155 (U.S. callers) or 617-597-5527 (international callers), and provide passcode 54149478. A live webcast of the call will also be available at: http://phx.corporate-ir.net/playerlink.zhtml?c=122332&s=wm&e=2097821

Please allow extra time prior to the webcast to register, download and install any n
'/>"/>

SOURCE Insmed Inc.
Copyright©2009 PR Newswire.
All rights reserved

Page: 1 2 3 4

Related biology technology :

1. Insmed to Present at Sanford C. Bernstein Biosimilars Long View Conference
2. Insmed Announces Financial Results for Third Quarter and Nine-Months Ended September 30, 2008
3. NASDAQs Temporary Suspension of Minimum Bid Closing Price Rules Extends Insmeds Compliance Date to March 20, 2009
4. Insmed Announces That NASDAQ Temporarily Suspends Minimum Bid Closing Price Rule
5. Insmed to Seek Shareholder Approval for Reverse Split
6. Insmed and Premacure Cite Study Results Demonstrating Potential Effectiveness of IPLEX(TM) in Preventing Blindness in Premature Infants
7. Insmed to Present at Biosimilars 2008 Conference
8. Insmed to Present at BioPharm Asia 2008 Conference
9. Insmed Announces Financial Results for Second Quarter and Six-Months Ended June 30, 2008
10. Insmed CEO to Present at Drug Discovery & Development Conference
11. Insmed to Host Second Quarter 2008 Conference Call
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:7/25/2014)... 25, 2014 At the request of ... a 60-day extension for the public comment period (Docket ... for Model Aircraft established by Congress as part of ... 60-day extension establishes the new deadline for comments as ... of Transportation/FAA notice published in the Federal Register on ...
(Date:7/24/2014)... Calif. , July 24, 2014  Now available ... to home. Rehealth Regenerative Therapies , located in ... and other physically active people a new health option: ... Regardless of age, countless patients suffer from joint ... activities, such as muscle tears, torn rotator cuff, tennis ...
(Date:7/24/2014)... to materialise. Yet, scientists are making progress in ... One such approach relies on quantum dotsa kind ... electric field. A new study demonstrates that changing ... (TQDs) with electrical impulses can help better control ... be used as quantum information units, which would ...
(Date:7/24/2014)... Your cell phone may stay charged ... storage capacity. , New research indicates that lithium-ion ... at Lawrence Livermore National Laboratory and ... components will perform as electrodes. , The growing ... for higher-performance batteries. Several key characteristics of lithium-ion ...
Breaking Biology Technology:FAA Grants Comment Extension at the Request of AMA 2Stem Cells In Sports Injuries, Joints And Muscular Pain 2Stem Cells In Sports Injuries, Joints And Muscular Pain 3Getting More Life out of Lithium-ion Batteries 2
... GenVault,s energy and space efficient technologies ideally suit ... create a new paradigm for eco-friendly, sustainable Biobanking ... announces the opening of its newly-formed Japanese subsidiary ... the expanding Biobanking market and its growing customer ...
... Therapeutics, Inc., a privately held ophthalmic-focused biopharmaceutical company, today ... ophthalmic gel, 0.15%, has been accepted for review by ... is seeking approval for ganciclovir as a treatment for ... simplex virus. The FDA has issued an action date ...
... 26 Fifty percent of clinical trial management ... share high-value, proprietary company information via e-mail, while ... overnight courier (14 percent), according to a recent ... for exchanging clinical trial information with outside parties ...
Cached Biology Technology:GenVault Opens Japanese Subsidiary to Better Address Global Biobanking Market Growth 2Sirion Therapeutics New Drug Application for Ganciclovir is Accepted for Review by the FDA for the Treatment of Ocular Herpes 2Sirion Therapeutics New Drug Application for Ganciclovir is Accepted for Review by the FDA for the Treatment of Ocular Herpes 3IntraLinks Poll: Half of Clinical Trial Management Professionals Share Critical Information Via E-Mail 2
(Date:7/24/2014)... planet,s current biodiversity, the product of 3.5 billion years ... the history of life. But it may be reaching ... scientific literature and analysis of data published in ... the loss and decline of animals is contributing to ... planet,s sixth mass biological extinction event. , Since 1500, ...
(Date:7/24/2014)... MADISON A multi-institutional team of researchers has developed ... tract. This safe, noninvasive method for assessing the function ... could lead to better diagnosis and treatment of gut ... bacterial overgrowth, irritable bowel syndrome and inflammatory bowel disease ... serious side effects in patients with diseases such as ...
(Date:7/24/2014)... counterparts in humans, affect the connections between nerve cells ... hippocampus, an area of the brain that plays a ... memories. The results of the study have been published ... depends on the active communication between nerve cells, known ... into a dense network where they constantly relay signals ...
Breaking Biology News(10 mins):Stanford biologist warns of early stages of Earth's 6th mass extinction event 2Stanford biologist warns of early stages of Earth's 6th mass extinction event 3New imaging agent provides better picture of the gut 2A protein couple controls flow of information into the brain's memory center 2A protein couple controls flow of information into the brain's memory center 3A protein couple controls flow of information into the brain's memory center 4
... passed on from mother to child is decided very early ... ovary. In a cell division process that is unique to ... egg before it is fertilised. Using a powerful microscope, researchers ... how the molecular machinery functions that is responsible for chromosome ...
... long-held belief that plant-eating insects in tropical forests are ... dining only on locale-specific vegetation is being challenged ... on a broader menu of foliage and can be ... These findings have significant implications related to ...
... just whats in your genes, its how you turn them on ... yeast according to a report by Yale researchers in this ... the protein coding genes of humans and chimpanzees are about 99 ... Cullman Professor of Molecular Cellular and Developmental Biology at ...
Cached Biology News:A unique arrangement for egg cell division 2Tropical insects 'go the distance' to inform rainforest conservation 2Evolution is driven by gene regulation 2
... General description: Humidity wells in the base ... chamber humidity and probe hydration around the ... eliminates the risk of waterbath contamination. This ... temperature waterbaths or hybridisation ovens. Linkage: This ...
... Protein DetectorTM Microarray Dot Blot Kits ... accuracy and quantitation over a wide range ... formats ) detection. They are ideal ... profiling hundreds of samples for the presence ...
... Slide features an ultra-thin nitrocellulose coating ... the first protein microarray slide to ... in a thin film with low,background ... ,The PATH™ Slide can be used ...
... Stabilizer is an aqueous solution that ... other non-toxic stabilizing chemicals in a ... 6.5. This product contains ... 0.02% bromonitrodioxane as a preservative. ...
Biology Products: