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news.Pinnacle Biologics has entered into a preferred stock purchase transaction with MedImmune, pursuant to which MedImmune has acquired certain unspecified number of preferred stock shares of Pinnacle Biologics. The terms of the agreement were not disclosed.
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Pinnacle Biologics owns the marketing and distribution rights to MedImmune’s Ethyol, 50mg/ml, powder for solution for infusion in Western Europe, Turkey and Israel.
Guillermo Herrera, chairman of the board at Pinnacle Biologics, said: “This is a highpoint for Pinnacle, as it signifies an additional milestone for our company.”