Clinical Data, the Newton, MA-based maker of diagnostic tests, said today it has acquired Adenosine Therapeutics to expand its roster of drug candidates in cardiology, diabetes, inflammatory diseases, and sickle cell anemia. Clinical Data (NASDAQ: [[ticker:CLDA]]) agreed to pay $11 million in cash for the Charlottesville, VA-based Adenosine, and also entered into a $22 million, five-year promissory note and a separate $3.2 million, 32-month promissory note. Clinical Data also agreed to pay as much as $30 million more in cash if certain regulatory and commercial goals are met.
Author: Luke Timmerman
Luke is an award-winning journalist specializing in life sciences. He has served as national biotechnology editor for Xconomy and national biotechnology reporter for Bloomberg News. Luke got started covering life sciences at The Seattle Times, where he was the lead reporter on an investigation of doctors who leaked confidential information about clinical trials to investors. The story won the Scripps Howard National Journalism Award and several other national prizes. Luke holds a bachelor’s degree in journalism from the University of Wisconsin-Madison, and during the 2005-2006 academic year, he was a Knight Science Journalism Fellow at MIT.
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