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Cytomedix expands reach with North Carolina acquisition

By February 17, 2012No Comments
Edward M. Rudnic, president and CEO of Advancis Pharmaceutical Corp. will speak at the upcoming biotechnology industry annual convention at the Washington Convention Center this weekend.

Edward M. Rudnic, president and CEO of Advancis Pharmaceutical Corp. will speak at the upcoming biotechnology industry annual convention at the Washington Convention Center this weekend.

A Gaithersburg biotech that’s developing regenerative therapies for wound care has continued to broaden its scope by acquiring a North Carolina company focused on stem cell treatments for stroke and other conditions.

In an all-stock transaction, publicly traded Cytomedix agreed last week to pay $16 million — and up to $40 million, if certain milestones are achieved — for privately held Aldagen of Durham, N.C. As part of the deal, Aldagen investors bought $5 million of Cytomedix common stock in a private placement.

To read the full, original article click on this link: Gazette.Net: Cytomedix expands reach with North Carolina acquisition

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