EUSA Pharma to Acquire US Specialty Oncology Compa... ( Acquisition of US Infrastructure Co...)

EUSA Pharma to Acquire US Specialty Oncology Company Cytogen

Date:3/11/2008

Acquisition of US Infrastructure Completes Build of EUSA's Transatlantic

Commercialization Platform

US$22.6 Million Acquisition Expands EUSA's Product Portfolio EUSA Raises Over US$50 Million to Fund Acquisition and Other Investments

DOYLESTOWN, Pennsylvania and OXFORD, England, March 11 /PRNewswire/ -- EUSA Pharma Inc ('EUSA'), a transatlantic specialty pharmaceutical company focused on oncology, pain control and critical care, today announced that it has entered into a definitive agreement to acquire all the outstanding shares of Cytogen Corporation (NASDAQ: CYTO) for US$22.6 million. Cytogen is a specialty pharmaceutical company with three oncology and pain control products on the American market, a specialist US sales force and an established commercial infrastructure. To meet the acquisition consideration, and fund further investments, EUSA Pharma has concurrently raised over US$50 million in an investment round, led by TVM Capital, an international venture capital firm.

"The acquisition of Cytogen is of great strategic importance for EUSA as it completes the building of our transatlantic commercialization infrastructure, as well as fitting perfectly with our focus on oncology and pain control," said Bryan Morton, Chief Executive of EUSA Pharma. "Over the last 18 months EUSA has built a strong European organization covering over 20 countries and marketing a portfolio of six specialty pharmaceuticals. Cytogen's products and US infrastructure are the ideal complement to our business, offering us the opportunity to commercialize a rapidly growing portfolio of medicines on both sides of the Atlantic."

Commenting on the acquisition, Rolf Stahel, Chairman of EUSA Pharma, said, "The
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