EUSA raises $50M to help fund Cytogen buyout

About four months after launching a review of its strategic alternatives, Cytogen has landed in the arms of EUSA, which has announced plans to buy the company for $22.6 million. Cytogen markets four cancer-related products and launched the review after its CEO departed last year. To complete the buyout, the UK's EUSA has raised $50 million from a consortium of venture groups led by TVM Capital.

"The acquisition of Cytogen is of great strategic importance for EUSA as it completes the building of our transatlantic commercialization infrastructure, as well as fitting perfectly with our focus on oncology and pain control," Bryan Morton, chief executive of EUSA, said in a statement.

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