Printer Friendly

BioPort Corporation Completes Purchase of Assets of Antex Biologics, Inc.

Business Editors/Health/Medical Writers


LANSING, Mich.--(BUSINESS WIRE)--June 3, 2003

BioPort Corporation of Lansing, Michigan today announced the purchase of the assets of Antex Biologics, Inc., of Gaithersburg, Maryland.

"This acquisition fortifies BioPort's long-term strategic plan by providing an exciting new product pipeline," said Bob Kramer, president of BioPort. "Antex brings us both innovative products and talented, experienced scientific personnel."

Antex currently has 30 employees. Of these, 22 are engaged in research and development activities. Antex has focused its research and development efforts in the area of infectious disease. Particular attention has been given to bacterial vaccines and novel antibiotics.

BioPort Corporation has 307 employees at its Michigan facility. The company manufactures the world's only FDA-licensed vaccine to prevent anthrax. BioThrax(TM) is used by the U.S. Department of Defense to protect U.S. service members from weaponized anthrax. Civilian laboratory technicians and decontamination workers have also been immunized with BioThrax(TM) to protect from the disease.

On March 17, 2003 BioPort announced its intent to purchase the assets of Antex Biologics, Inc. and its wholly owned subsidiary AntexPharma. BioPort then entered into a non-binding letter of intent and loan agreement with Antex. Subsequently, on March 27, 2003, Antex filed for bankruptcy under Chapter 11.

The purchase of the Antex assets for $3.4 million was approved by the U.S. Bankruptcy Court for the District of Maryland.
COPYRIGHT 2003 Business Wire
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2003, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

Article Details
Printer friendly Cite/link Email Feedback
Publication:Business Wire
Geographic Code:1USA
Date:Jun 3, 2003
Previous Article:Fitch Upgrades 45 & Affirms 15 RFMSI RMBS Ratings from 12 Securitizations.
Next Article:A.M. Best Assigns Rating to PMA Capital's Senior Debt.

Related Articles
World premiere of eXistenZ: a report from Berlin.
Chem-Bio attack looming, say U.S. officials: According to Sen. Tim Hutchinson, 'The unthinkable has become thinkable'.
Another phase of Novartis Animal Vaccines, Inc.'s purchase of ImmTech Biologics and Grand Laboratories is complete. (Marketing News).
Miniature soldering iron.
Merck announces it has agreed to purchase two biotechnology firms that will help it discover and produce products.
Enlisting tobacco in the fight against Anthrax.

Terms of use | Privacy policy | Copyright © 2019 Farlex, Inc. | Feedback | For webmasters