Axxima, GPC Biotech deal

Cancer company, GPC, acquired the assets of kinase discovery company Axxima (Munich, Germany) for E13.7 million ($18.1 million) in stock. GPC will issue 1.3 million shares at E10.47 ($13.87), which is a 7% premium to GPC's March 1 close of E9.80 on the Frankfurt Stock Exchange. Axxima filed for insolvency in December 2004. ...