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

0

GOOD

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:5/23/2013)... NY (PRWEB) May 23, 2013 ... GRAPHALLOY® self-lubricating bushings mounted in stainless steel ... self-lubricating properties of GRAPHALLOY with the application and ... Stainless Steel Pillow Blocks work exceptionally well ... corrosive or hostile liquids such as acids, alkalies, ...
(Date:5/23/2013)... May 23, 2013 PI’s new ... and provide 15 mm travel range with closed-loop ... small dimensions make these new positioners the ideal ... A vacuum rated version is also available. ... and datasheets can be found at: , ...
(Date:5/23/2013)... On April 19th the Center ... search for the growing antibiotic resistant bacteria that may ... year long study were released late last month showing ... over previous years. For those suffering from bacteria driven ... resistant bacteria in food, may eventually help breed acne ...
(Date:5/23/2013)... 23, 2013  Verenium Corporation (Nasdaq: VRNM ... development and commercialization of high-performance enzymes, today announced that ... will present at two upcoming conferences. (Logo: ... at the Second Annual Marcum LLP Microcap Conference on ... in New York City.  The presentation is scheduled to ...
Breaking Biology Technology:Graphite Metallizing Now Offers GRAPHALLOY® Stainless Steel Pillow Blocks for Success in Submersible Applications 2Graphite Metallizing Now Offers GRAPHALLOY® Stainless Steel Pillow Blocks for Success in Submersible Applications 3Precision Positioning System Uses Miniaturezed Piezo Linear Motor: LPS-24 Linear Stage by PI 2Acne Cream, Probiotic Action Shares News on How Some Food may Breed Acne Causing Bacteria 2Verenium To Present At Two Upcoming Conferences 2Verenium To Present At Two Upcoming Conferences 3
... gold wires often used in high-end electronic applications are wonderfully ... apply to the same wires at the nanoscale. ... than 20 nanometers wide can become "brittle-like" under stress. It ... The paper by Rice materials scientist Jun Lou and his ...
... 2011 PharmAthene, Inc. (NYSE Amex: PIP ), ... threats, announced today that in view of the relatively large ... of the trading day on August 25, 2011, the NYSE ... practice.  It is the Company,s policy not to comment on ...
... JOSE, Calif., Aug. 29, 2011 BD Biosciences, ... the latest round of winners of the BD Biosciences Research ... promising young U.S. and European scientists at critical junctures of ... BD Biosciences. "No biomedical discovery has shown as much promise, ...
Cached Biology Technology:Tiny wires change behavior at nanoscale 2NYSE Amex Required Update 2BD Biosciences Announces Winners of Research Grant Program 2BD Biosciences Announces Winners of Research Grant Program 3BD Biosciences Announces Winners of Research Grant Program 4
(Date:5/24/2013)... search for medication against Alzheimer,s disease, scientists have focused ... Amyloid beta (A-beta). After all, it is the accumulation of ... Alzheimer,s patients. Starting point for the formation of A-beta is ... first to unravel the function of APPL the fruit-fly ... flies. , Alessia Soldano (VIB/KU Leuven): "We have discovered ...
(Date:5/23/2013)... honored more than 165 staff for their creation, ... annual Intellectual Property Commercialization Recognition & Rewards Program ... laboratory named materials scientist Jun Liu Inventor of ... that can store large amounts of energy, ease ... time it takes to charge cell phones, electric ...
(Date:5/23/2013)... of genomic DNA around nucleosomes in the cell ... team of Ludwig-Maximilians-Universitaet (LMU) in Munich now describes ... locally displaced from nucleosomes for transcription. , In ... the cell nucleus, wrapped around disk-shaped particles called ... different histone proteins and accommodating two loops of ...
Breaking Biology News(10 mins):A new strategy required in the search for Alzheimer's drugs? 2PNNL staff recognized for scientific accomplishments, moving technologies into the marketplace 2Biochemistry: Unspooling DNA from nucleosomal disks 2
... Washington University in St. Louis have figured out the ... its neighboring membrane in a photosynthetic bacterium, a key ... Robert Blankenship, Ph.D., Markey Distinguished Professor of biology ... that for the first time combined chemical labeling with ...
... research centers based in Woods Hole, Massachusetts, announce the ... that will bring their combined scientific power to bear ... and spawn scientific growth and job opportunity on the ... Woods Hole Marine Biological Laboratory (MBL), Woods Hole Oceanographic ...
... genetic abnormality that appears to prevent some men from ... male contraceptive, according to University of Iowa researchers reporting ... the American Journal of Human Genetics . ... ago and have proven very effective for family planning, ...
Cached Biology News:Orientation of antenna protein in photosynthetic bacteria described 2Orientation of antenna protein in photosynthetic bacteria described 33 Woods Hole scientific institutions forge alliance to address societal issues 23 Woods Hole scientific institutions forge alliance to address societal issues 3Gene discovery could lead to male contraceptive 2
AVOID FREEZE/THAW CYCLES. Recognizes the ~32 kDa DNase IIα chain and the ~40 kDa proenzyme. DNase II causes both DNA condensation and DNA fragmentation. ...
BD BioCoat Poly-D-Lysine 60 mm Culture Dishes, tissue-culture treated polystyrene with a uniform application of poly-D-lysine....
... BD BioCoat Collagen I 60 mm Culture Dishes ... Dishes, tissue-culture treated polystyrene with a uniform application ... Coating : Collagen I ,Surface : ... 21.3 cm2 ,Dim nominal : 60 ...
... This CLS number is a new product ... number. If showing no availability yet, please ... or contact customer service for assistance. ... Comp Dim: D H 100 ...
Biology Products: