Cypress Bioscience Buys Cellatope
Cypress Bioscience Inc. (Nasdaq: CYPB) has acquired the technology platform of Cellatope Inc., which uses cell-bound complement activation products to diagnose and monitor severe autoimmune disorders. The deal includes a $2 million up-front cash payment, plus up to $3 million in milestone-based payments. Pittsburgh-based Cellatope raised a $1.6 million venture recap round in early 2007, from BioAdvance Ventures (managed by Quaker BioVentures), University City Science Center, BlueTree Capital Partners, Meyer Ventures Investments and Innovation Works Inc.
27 February 2009•3 mins read
