Neose Technologies, Inc. (NTEC) Announces Sale of Assets to Novo Nordisk and BioGeneriX AG for $43 Million
Neose Technologies, Inc. (Nasdaq GM: NTEC), a clinical-stage biopharmaceutical company focused on the development of next-generation therapeutic proteins that are competitive with best-in-class protein drugs currently on the market, recently announced that the company has signed definitive asset purchase agreements with Novo Nordisk A/S (NVO) and BioGeneriX AG, providing for the sale of substantially all of the assets of Neose in all-cash transactions for a purchase price of approximately $43 million. Pending stockholder approval, the preliminary estimate of aggregate distribution amounts represents $0.27 to $0.45 per share of common stock. Pursuant to the terms of the common stock purchase warrants…