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January 17, 2007

Genentech Acquisition of Tanox Approved

    By Jason Derry --

Tanox Tanox Inc. has announced that its shareholders have approved Genentech's offer to acquire the company for $20 per share ($919 million).  Tanox is a biotechnology company located in Houston, TX that focuses on discovery and development of biotherapeutics.  Tanox's approved drug Xolair® (omalizumab) is the first anti-IgE antibody on the market.  As stated on Tanox's website, Xolair® is approved for the treatment of asthma in adults and children age 12 and over.  Tanox also has three additional monoclonal antibodies in various stages of clinical development.  The actual acquisition of Tanox by Genentech is now subject to approval by regulators.

Genentech Jason Derry, Ph.D., who graduated with honors from DePaul University College of Law, is a molecular biologist and founding author of Patent Docs.

Posted at 11:03 AM in Biotech/Pharma Business |

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