ICGN

Pharma

PFE gives ICGN shareholders last chance to accept $56M deal

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 […]

Pharma

Pfizer secures enough shares for Icagen acquisition

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, […]

Pharma

Icagen executive Suto departs for Southern Research Institute post

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 […]

Pharma

Pfizer-Icagen deal faces problem: Merlin Nexus opposes price

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 […]

Pharma

Pfizer-Icagen merger: What ICGN could bring to PFE’s portfolio

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 […]

Pharma

Could NC biotech Icagen get acquired by Pfizer?

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 […]

Pharma

N.C. pharma Icagen names Krafte chief scientific officer

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 […]