Thursday, July 21, 2011

Amira Pharmaceuticals Acquired By Bristol-Myers Squibb

San Diego-based Amira Pharmaceuticals, a developer of small molecule pharmaceuticals for treating inflammatory and fibrotic diseases, has agreed to be acquired by Bristol-Myers Squibb, the firms said late Thursday. Bristol-Myers Squibb said it would pay $325M upfront, and up to $150M in milestone payments, for Amira. Amira Pharmaceuticals was venture backed by Avalon Ventures, Novo A/S,Prospect Venture Partners, and Versant Ventures. The firm had raised somewhere around $40M in venture capital funding.

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