Neose Technologies, Inc. Announces Closing of Asset Sales to Novo Nordisk A/S and BioGeneriX AG
27 Jan 2009
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HORSHAM, Pa.--(BUSINESS WIRE)--Neose Technologies, Inc. (Nasdaq GM: NTEC) today announced the closing on January 27, 2009 of the previously announced sale of substantially all of the Company’s assets to Novo Nordisk A/S (NYSE: NVO) and BioGeneriX AG in accordance with asset purchase agreements dated September 17, 2008 (the “Asset Sales”). The Company received gross proceeds of $43 million in connection with the Asset Sales. Each of the Asset Sales required the approval of Neose stockholders. The required approvals were obtained at a special meeting of stockholders held on January 26, 2009. Morgan Lewis acted as special transaction counsel and RBC Capital Markets acted as exclusive financial advisor to Neose in these transactions.
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