SuperGen Completes Acquisition of Astex Therapeutics

SuperGen has acquired Astex Therapeutics Limited, a privately held, UK-based biotechnology company developing targeted therapies.

Cancer drug developer SuperGen, Inc. announced it has closed the transaction to acquire Astex Therapeutics Limited, a privately held, UK-based biotechnology company developing targeted therapies.

Astex Therapeutics Limited became a wholly owned subsidiary of SuperGen, Inc. SuperGen purchased all outstanding shares of Astex for approximately $25 million in cash and 32.4 million shares of SuperGen common stock representing 35 percent of the total post closing shares outstanding. In addition, SuperGen will pay deferred consideration in the amount of $30 million in either stock or cash, at the discretion of the combined entity, over a period of 30 months. SuperGen has assumed all currently outstanding stock options of Astex.

"SuperGen is extremely pleased to close the