EPIX to buy Predix in $90M merger

EPIX Pharmaceuticals has inked a deal to buy Predix Pharmaceuticals in a deal valued at $90 million. Predix shareholders will wind up with 47 percent of the company and stand to earn an additional $35 million in milestones. The combined drug developer will have several advanced programs, including PRX-00023 in Phase III for anxiety and expected to enter Phase II for depression in 2007; EP-2104R in Phase II for imaging arterial and venous blood clots; PRX-03140, which has completed Phase Ib trials and is expected to enter Phase II for Alzheimer's disease later this year and PRX-08066 in Phase Ib development for pulmonary arterial hypertension.

- here's the release for more information