Genethera Inc shelves bid for Oxford BioMedica

Source: Healthcare Digital

Date :03/09/2008 09:44:14

GeneThera Inc said Wednesday, September 3, that it has withdrawn its bid for Oxford Biomedica plc.

In a statement, GeneThera said it is continuing to evaluate a variety of commercial transactions with the UK biotechnology company, but that it has decided not to make an offer.

Last month, Oxford Biomedica spurned a 35 pence all-share takeover bid by the US molecular biotechnology company saying that it was not credible. The offer was pitched at a 300 percent premium at the time.

Following the rejection, Genethera had said it was considering its options.