Abbott invests another $20M in Isis' Ibis unit
US drug major Abbott Laboratories has invested a further $20.0 million in California-based Isis Pharmaceuticals' subsidiary Ibis, in which it already holds an 18.6% stake.
Abbott has so far invested $40.0 million in the subsidiary and retains an exclusive option to acquire the remaining equity in Ibis for up to $190.0 million until June 30, 2009. If the acquisition goes ahead, Isis will receive an earn-out fee tied to pre-negotiated milestones.
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