Nearly one-third of Icagen (NASDAQ:ICGN) shareholders have yet to accept Pfizer‘s (NYSE:PFE) $56 million offer for the pain drug development company and the pharmaceutical giant is giving them one last chance. The expiration date for the offer at $6 per share in cash has been extended one week. But Pfizer, which extended its tender offer […]
Pfizer‘s (NYSE:PFE) Icagen (NASDAQ:ICGN) acquisition is a go. After two extensions last week, Pfizer announced today that it has enough shares tendered for sale for the $56 million cash deal to proceed at the price of $6 per share. As of the 6 p.m. deadline on Sept. 2, 64 percent of outstanding shares of Icagen, […]
Icagen‘s (NASDAQ:ICGN) sale to Pfizer (NYSE:PFE) hangs in the balance by 39,799 shares. That’s the minimum number of shares that need to be tendered for the $56 million sale to proceed. Pfizer extended to 6 p.m. today the expiration date of its offer. In July, Pfizer announced an agreement with Icagen to acquire the pain […]
Pfizer‘s (NYSE:PFE) $56 million offer for Icagen (NASDAQ:ICGN) has been extended one more day as the pharmaceutical giant remains just shy of the minimum shares needed to execute the acquisition. Unless there is another extension, Pfizer’s Icagen offer now expires midnight tonight. As of midnight Aug. 31, the 49 percent of diluted shares tendered was […]
Pfizer (NYSE:PFE) will not raise its offer to acquire Icagen (NASDAQ:ICGN). The pharmaceutical giant sent a letter to Icagen’s board of directors today holding firm on its purchase price of $6 per share, which amounts to $56 million. Douglas Giordano, senior vice president, worldwide business development, wrote that with the approaching Aug. 31 expiration of […]
Two Icagen (NASDAQ:ICGN) institutional investors opposed to Pfizer‘s (NYSE:PFE) $56 million offer for the pain drug development company now say the company’s value should be nearly three times that amount. Merlin Nexus and New Leaf Venture Partners say that with potential sales of pain treatment products exceeding $2 billion a year, they value Durahm, North […]
A specialty drug is a class of prescription medications used to treat complex, chronic or rare medical conditions. Although this classification was originally intended to define the treatment of rare, also termed “orphan” diseases, affecting fewer than 200,000 people in the US, more recently, specialty drugs have emerged as the cornerstone of treatment for chronic and complex diseases such as cancer, autoimmune conditions, diabetes, hepatitis C, and HIV/AIDS.
Pfizer‘s (NYSE:PFE) Icagen (NASDAQ:ICGN) acquisition has yet to close, but the talent exodus from the drug development company is already under way. Mark Suto, Icagen’s vice president of chemical and pharmaceutical science, is leaving the Durham, North Carolina-based company for the Southern Research Institute. Suto has been named vice president of the drug discovery division […]
Pfizer‘s (NYSE:PFE) $56 million offer to acquire Icagen (NASDAQ:ICGN) followed a mostly fruitless courtship dating back five years that ultimately saw the pharma giant beat out two others who vied for all or part of the pain drug company. Pfizer’s offer, which amounts to $6 per share, is now under challenge by some shareholders as […]
Pfizer’s (NYSE:PFE) $56 million bid to acquire Icagen (NASDAQ:ICGN) faces a big hurdle — two of Icagen’s largest shareholders. Merlin Nexus and New Leaf Venture Partners, two firms holding Icagen stock, submitted a July 28 letter to the Icagen board contesting the deal, saying they “believe the purchase price dramatically undervalues Icagen’s assets and is […]
Pfizer (NYSE:PFE) will acquire North Carolina drug development company Icagen (NASDAQ:ICGN) for $56 million in a move to bolster its own pain drug pipeline. Under terms of the agreement, Pfizer, which already owns about 11 percent of Research Triangle Park-based Icagen’s stock, will acquire the remaining 8.3 million Icagen stock for $6 per share. Pfizer […]
Munck Wilson Mandala Partner Greg Howison shared his perspective on some of the legal ramifications around AI, IP, connected devices and the data they generate, in response to emailed questions.
Pfizer (NYSE:PFE) is now talking about a possible acquisition of Icagen (NASDAQ:ICGN). But, already, Pfizer is Icagen’s primary supporter. Icagen, which is based in Durham, North Carolina, has relied on a 2007 partnership with Pfizer to develop drug candidates to treat pain. Icagen’s compounds modulate ion channels, which are protein structures found in the cells […]
Pfizer (NYSE:PFE) is taking a hard look at acquiring the NC biotech company Icagen (NASDAQ:ICGN) in a move that could bring a slate of pain drug candidates into the pipeline of the world’s largest pharmaceutical company. Pfizer has disclosed in a regulatory filing that it has started talks with the Durham-based company. Icagen, which is […]
North Carolina biopharmaceutical company Icagen (NASDAQ:ICGN) has promoted executive Douglas Krafte to the newly created position of chief scientific officer. Krafte has been vice president of biology and scientific affairs at the Durham, North Carolina-based company and has held various leadership positions since joining in 1999. Icagen said that in his new role, Krafte will […]
New pain drugs being developed in partnership with Pfizer hit key goals, triggering milestone payments to North Carolina drug development company Icagen. The partners are moving forward with their drug candidates in clinical trials.
Biopharmaceutical company Icagen can resume clinical studies on its epilepsy drug candidate after the U.S. Food and Drug Administration removed a hold it had placed on the compound last fall due to safety concerns that surfaced during trials.
