GPC acquires Axxima's assets

Cancer company GPC Biotech (FSE:GPC; GPCB) acquired the assets of kinase discovery company Axxima (Munich, Germany) for EUR 13.7 million ($18.1 million) in stock. GPC will issue 1.3 million shares at EUR 10.47 ($13.87), which is a 7% premium to GPC's March 1 close of EUR 9.80 on the Frankfurt Stock Exchange. Axxima filed for insolvency in December 2004. ...