Lundbeck Inc. to Make $16 Million Investment in Proximagen Group plc.
Published: Sep 29, 2011
Danish pharmaceutical group Lundbeck is to invest 10.3 million pounds ($16.1 million) in British peer Proximagen Group PLC as part of a strategic partnership, the companies said on Thursday. Entering the deal would allow the companies to jointly use their expertise in central nervous system (CNS) drug development, the companies said in a statement. "Proximagen has built an exciting pipeline which offers real promise in treating a number of CNS disorders," Lundbeck's head of research and development, Anders Gersel Pedersen said in the statement.