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:12/24/2014)... 2014 Sigma-Aldrich Corporation (NASDAQ: ... under the Hart-Scott-Rodino Antitrust Improvements Act (HSR Act) ... 22, 2014, thereby completing the U.S. HSR Act ... of the Company by Merck KGaA, Darmstadt, Germany.  ... condition to closing the transaction, which remains subject ...
(Date:12/22/2014)... , Dec. 22, 2014 /PRNewswire/ - RepliCel Life ... regenerative medicine company focused on the development of autologous ... out of the University of Calgary in conjunction with ... Carolina, which further validates the company,s ongoing clinical research ... effects of pattern baldness. The paper entitled ...
(Date:12/22/2014)... ITRA Global, one of the largest organizations ... estate, has further expanded its global reach with the ... Western Australia, reports Mylinda Vick, CCIM, Chairman of the ... / ACORPP (Australian Corporate Property and Projects) , is ... services to a wide range of clients in the ...
(Date:12/19/2014)... Dec. 19, 2014 Naurex Inc., a biopharmaceutical ... for diseases of the central nervous system, today announced ... executive officer, will present at the 33 rd ... take place at 3:00 p.m. PST on Tuesday, January ... San Francisco, Calif. ...
Breaking Biology Technology:Acquisition of Sigma-Aldrich by Merck KGaA, Darmstadt, Germany, Receives U.S. Antitrust Clearance 2Acquisition of Sigma-Aldrich by Merck KGaA, Darmstadt, Germany, Receives U.S. Antitrust Clearance 3Newly Released Peer-Reviewed Publication Further Validates RepliCel's Use of Dermal Sheath Cup Cells to Treat Pattern Baldness 2Newly Released Peer-Reviewed Publication Further Validates RepliCel's Use of Dermal Sheath Cup Cells to Treat Pattern Baldness 3Newly Released Peer-Reviewed Publication Further Validates RepliCel's Use of Dermal Sheath Cup Cells to Treat Pattern Baldness 4Newly Released Peer-Reviewed Publication Further Validates RepliCel's Use of Dermal Sheath Cup Cells to Treat Pattern Baldness 5ITRA Global Continues International Expansion in Perth and Brisbane, Australia 2Naurex to Present at 33rd Annual J.P. Morgan Healthcare Conference 2
... , D.J. Lowrie Jr. ,Department of Cell Biology, ... Medicine, Cincinnati, OH 45267 , , Transfection of ... of,liposome-based reagents. Here we compare the transfection efficiency ... both LipoTAXI ,transfection reagent ...
... Taq DNA polymerase , makes hot start simple and efficient , ... , , , Jonathan Eads ... Stratagene , , , ... Taq , DNA polymerase , ...
... and effort needed for,transformationswithout compromise! , Anna Waesche ... Alan Greener ,Stratagene , Stratagene introduces competent cells from ... easy-to-use, single-reaction format that,yield the supercompetent efficiency of 1 ... the competent efficiency of 1 x 10 8 ...
Cached Biology Technology:Transfection of Green Fluorescent Protein into Human Adrenalcarcinoma Cells 2Transfection of Green Fluorescent Protein into Human Adrenalcarcinoma Cells 3Transfection of Green Fluorescent Protein into Human Adrenalcarcinoma Cells 4Greater Amplification Specificity with New Hot Start PCR Enzyme 2Greater Amplification Specificity with New Hot Start PCR Enzyme 3Greater Amplification Specificity with New Hot Start PCR Enzyme 4Greater Amplification Specificity with New Hot Start PCR Enzyme 5Greater Amplification Specificity with New Hot Start PCR Enzyme 6Greater Amplification Specificity with New Hot Start PCR Enzyme 7XL10-Gold Cells Supplied in New Single-Reaction Format 2XL10-Gold Cells Supplied in New Single-Reaction Format 3XL10-Gold Cells Supplied in New Single-Reaction Format 4
(Date:12/11/2014)... 09, 2014 Research and Markets ... ( http://www.researchandmarkets.com/research/9ql3kr/biometrics_market ) has announced the addition ... report to their offering. ... the adoption of multimodal biometric systems. Multimodal biometric ... individual for verification and identification purposes. This helps ...
(Date:12/10/2014)... , Dec. 8, 2014 You,ve been here ... account but can,t remember your password, site key or the ... was your first grade teacher? Today, ... the app that will finally put an end to ... 1U TM . 1U leverages a user,s smartphone ...
(Date:12/10/2014)... 2014 CIE San Diego has launched an ... connective tissue that enhances care coordination among social service ... client-level information; earned a second $1 million grant from ... seniors aging in community and; will be recognized as ... th 4-6p. CIE San Diego today ...
Breaking Biology News(10 mins):Biometrics Market in India 2015-2019: Key Vendors are 3M Cogent, NEC, Safran and Suprema 2The Password is Finally Dead: Launch of 1U Mobile App Eliminates Need for All Usernames and Passwords 2The Password is Finally Dead: Launch of 1U Mobile App Eliminates Need for All Usernames and Passwords 3Community Information Exchange San Diego Launches Pilot, Secures $1 Million Expansion Grant, and Becomes a "Live Well San Diego" Partner 2Community Information Exchange San Diego Launches Pilot, Secures $1 Million Expansion Grant, and Becomes a "Live Well San Diego" Partner 3Community Information Exchange San Diego Launches Pilot, Secures $1 Million Expansion Grant, and Becomes a "Live Well San Diego" Partner 4
... (Pink Sheets: ESMT); with its parent company IVI Smart ... that it has,delivered the Company,s newest Super Smart Card(TM), ... Both companies celebrated the delivery of the "I AM"(TM) ... Center in Seoul, Korea,presided over by Mr. Teawon Park, ...
... Center at Washington University School of Medicine increased its ... Genome Sequencer FLX Systems from Roche Diagnostics. With ... Genome Sequencing Center will be able to support a ... ranging from the sequencing of new complex genomes to ...
... that harvests far-red light by making a rare form ... according to a team of researchers who recently sequenced ... State University and Washington University, St. Louis, report in ... of the National Academy of Sciences, that they have ...
Cached Biology News:e-Smart(R) Technologies Delivers Its New Super Smart Card(TM) in South Korea. 2Washington University increases fleet of Roche Genome Sequencer FLX Systems 2Washington University increases fleet of Roche Genome Sequencer FLX Systems 3Researchers decode genetics of rare photosynthetic bacterium 2Researchers decode genetics of rare photosynthetic bacterium 3
Anti-Src-Like Adaptor Protein-2 AVOID FREEZE/THAW CYCLES. Recognizes the ~25 and ~28 kDa forms SLAP-2....
... media for spontaneous ligand immobilization can be coupled ... antigen, or receptor to create an affinity matrix ... couple ligands via primary amines. Affi-Gel 10 gel ... 6.5 to 11; Affi-Gel 15 gel couples acidic ...
pH-dependent fluorescence; Maximum intensity observed in basic solutions....
Anti-Chicken IgY, (IgG) F(ab')2 Fragment Specific....
Biology Products: