VaxGen Buying diaDexus

VaxGen Inc. (OTC BB: VXGN) has agreed to acquire diaDexus Inc., a South San Francisco-based developer of a blood test for the prediction of cardiovascular disease, for approximately $21 million worth of VaxGen shares. Following the deal, existing diaDexus shareholders would hold a 60.9% stake in the combined company.DiaDexus has raised around $180 million in VC funding since 2000, from Scale Venture Partners, GlaxoSmithKline, Baker Brothers Advisors, Burrill & Co., Rho Ventures, Bain Capital's Brookside Fund and Mosaix Ventures.

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