SciClone Pharma Buys NovaMed

Publicly traded SciClone Pharmaceuticals Inc. has acquired China-based NovaMed Pharmaceuticals Inc. The deal includes approximately $24.7 million in cash, and shares of SciClone common stock valued at roughly $37.1 million, the company said in a release. There is also the potential for $43 million in payments, contingent on revenue and earnings targets for the next two years. NovaMed was reportedly backed by investors including Fidelity Asia Ventures and Atlas Venture.

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