From Fierce Biotech, Novartis has decided to close down Protez Pharmaceuticals, a company that it acquired a skant couple years ago for $400 M. The crown jewel of the acquisition at that time was Protez's antibiotic PZ-601 targeted to combat MRSA. But, that is now history along with all the potential milestones Protez investors may have been counting up.
Novartis has shuttered the doors and another one bites the dust.
Posted by Bruce Lehr September 20th 2010.
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