SCOTISH BIOTECH COS IN US MERGERS
Two of Scotland's biotechnology companies, Scotgen Pharmaceuticals and Pharmaceutical Proteins Holding, are securing footholds in the USA through mergers with US biotechnology companies.
Scotgen has merged with Vasocor to form a new company 60%-owned by Scotgen and 40%-owned by Vasocor. The new company, California-based Scotgen Pharmaceuticals, has raised $7 million to be used to bring products into clinical trials which will take place in the USA.
Scotgen has developed 12 products using genetic engineering to convert mouse antibodies into humanized antibodies which act on cardiovascular problems.
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