Osiris signs up to $1.68B deal with Genzyme
Shares in Osiris Therapeutics jumped 26% after the firm said it had entered a partnership with US biotechnology major Genzyme to develop two late-stage stem cell agents.
The stock rose to a 19-month high of $19.48 when the deal, which is worth up to $1.38 billion to Columbia, Maryland-based Osiris, was announced on November 4.
According to Genzyme, the partnered products - Prochymal and Chondrogen - hold significant potential to treat a wide range of diseases. Both stem-cell therapies are designed to control inflammation, promote tissue regeneration and prevent scar formation.
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