MGI Pharma (MOGN) To Acquire Zycos; Pivotal Phase 3 Program For ZYC101 A Planned For Early 2005; $50 Million In Cash
10/19/2005 5:10:29 PM
MGI PHARMA, INC. (Nasdaq:MOGN), an oncology-focused biopharmaceutical company, and Zycos Inc., a privately held company focused on the creation and development of oncology and antiviral products, today announced that they have signed a definitive merger agreement under which MGI PHARMA will acquire Zycos for $50 million in cash. This transaction, which has been approved by the boards of directors of both companies, is subject to approval by the stockholders of Zycos. MGI PHARMA and Zycos expect the transaction to close in September 2004.
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