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Encorium Group to acquire Prologue Research Intl.
July 2008
SHARING OPTIONS:

WAYNE, Pa.óGlobal CRO Encorium Group Inc. announced in June it signed a non-binding letter of intent to acquire Prologue Research International Inc., a CRO that specializes in clinical research services for Phase I through Phase IV oncology clinical trials. According to the letter of intent, Encorium will acquire all of Prologue's shares for $13 million, consisting of $4.5 million in cash and $8.5 million in a combination of non-convertible, non-redeemable senior subordinated debt and convertible, redeemable senior subordinated debt. Encorium also will give Prologue a $500,000 non-refundable cash payment in exchange for Prologue's granting an exclusivity period. Closing, subject to customary approvals, is expected to occur in the third quarter of 2008.





 

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