Clinical Data Completes Acquisition of Avalon Pharmaceuticals

Published: May 29, 2009

NEWTON, Mass.--(BUSINESS WIRE)--Clinical Data, Inc. (Nasdaq: CLDA) today announced the completion of its acquisition of Avalon Pharmaceuticals, Inc. Clinical Data acquired Avalon through an all-stock transaction valued at approximately $10 million, based upon the 15-day volume weighted average price of $12.49 for Clinical Data’s common stock through Monday, October 27, 2008, the date of the definitive merger agreement. As a result of the acquisition, the common stock of Avalon ceased trading at market close on May 28, 2009.

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