Roche Holding plans to buy GlycArt Biotechnology, a Swiss biotech company that specializes in enhancing the efficacy of antibodies. Roche will pay about CHF 235 million in cash for the outstanding stock of privately held GlycArt, which has three monoclonal 1 antibody drugs in preclinical trials for cancer. Monoclonal antibodies are man-made duplicates of proteins used by the immune system.
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PLUS: Meanwhile, Roche's first-half net profit declines as sales rise. Story