Protherics selling shares to finance new deals

The U.K.'s Protherics has inked a trio of deals aimed at boosting its pipeline. It's agreed to pay $25 million to buy MacroMed in order to obtain OncoGel for esophageal and brain cancers; acquired technical knowledge from Glenveigh Pharmaceuticals on the use of sheep polyclonal antibodies to treat pre-eclampsia and eclampsia; and licensed a drug for B-cell chronic lymphocytic leukemia from Advanced In Vitro Cell Technologies. To finance the deals, Protherics is offering shares worth about $75 million. Protherics has been hampered by delays in developing its two main drug therapies.

- here's the AFX report on Protherics

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