Parsippany-based The Medicines Co. has announced its intent to purchase Netherlands-based ProFibrix, based on the results of a trial of ProFibrix's powder to stop surgical bleeding.
According to the announcement, Medicines will pay ProFibrix a $10 million upfront option payment. If Medicines is satisfied with the Phase 3 clinical trial results of the powder and decides to proceed, it will purchase all the outstanding capital stock of ProFibrix at closing. Otherwise, Medicines may terminate the transaction with no further obligation to ProFibrix shareholders.
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