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Protherics, the biotechnology company with 300 staff at sites in Runcorn, London, Ceredigion, Australia and the US, is to be acquired by BTG for £218m.
Protherics has raised £38m in a share placing to fund the expansion of its biotechnology business, including the acquisition of US-based MacroMed and licensing deals with Glenveigh Pharmaceuticals and Advanced In Vitro Cell Technologies.
Protherics, the biotechnology company developing a new treatment for sepsis, is to invest £10m in research this year.
Protherics has secured a £7.5m equity investment from AstraZeneca, and AZ will also fund a £16m expansion of Protherics' biopharmaceuticals production facilities.
Protherics is seeking financial assistance from the Welsh Assembly to expand its biotechnology-based production plant in Llandysul.
Protherics is to acquire Enact Pharma, the biopharmaceuticals company, for £7.9m, and has also announced plans to raise £3m in a share offer.
Protherics is selling its computer-aided molecular design business to Tularik of the US for £6.7m.
Protherics has raised £3.1m in a share placing in order to fund the expansion of its pharmaceutical production facilities.