Alpha-Beta Acquires MycoTox
Alpha-Beta Technology of the USA has completed its acquisition offellow US firm MycoTox. ABT said it will take a charge in the second quarter of 1997 due to the write-off of acquired in-process R&D. ABT made an initial payment of 56,813 of its common stock for the acquisition, and an additional 113,630 shares will be issued in a year's time. Also, up to $1 million of additional ABT common stock will be issued to MycoTox shareholders on achievement of certain milestones. The focus of the purchase is to accelerate ABT's antifungal research program.
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