News | News By Subject | News by Disease News By Date | Search News
Get Our FREE
Industry eNewsletter
email:    
   

Zeltia Group (18494051.MA) To Invest 155 Million Euros In Drug Units PharmaMar S.A. And Neuropharma, S.A.U.


10/19/2005 5:09:05 PM

MADRID, Aug 4 (Reuters) - Spanish chemicals and biotech company Zeltia (ZEL.MC: Quote, Profile, Research) said on Thursday it will invest 155 million euros ($190.9 million) until 2007 in its fledgling pharmaceutical units PharmaMar and Neuropharma. The money will come from capital increases already completed, the sale of non-strategic assets and from Zeltia's chemical subsidiaries. Zeltia's marine biotech unit PharmaMar will receive 114.3 million euros and the rest will go to Neuropharma. PharmaMar is developing a number of cancer treatments but none has yet been approved for sale. It receives some funds from U.S. multinational Johnson & Johnson (JNJ.N: Quote, Profile, Research) under a deal covering the drug Yondelis that PharmaMar is developing.

Read at Reuters

comments powered by Disqus
Reuters
   

ADD TO DEL.ICIO.US    ADD TO DIGG    ADD TO FURL    ADD TO STUMBLEUPON    ADD TO TECHNORATI FAVORITES