Emergent BioSolutions ends bid to acquire Protein Sciences

Emergent will pursue full repayment of the $10 million loan, which is secured by substantially all of Protein Sciences’s assets, and settlement of the outstanding litigation against Protein Sciences and its senior management initiated by Emergent in connection with an earlier executed asset purchase agreement.

Daniel Abdun-Nabi, president and COO of Emergent BioSolutions, said: “After protracted efforts to determine whether a mutually agreeable acquisition could be completed, we have concluded that such a transaction is no longer practical. In line with Emergent’s growth strategy, we are actively pursuing other opportunities which would complement our product pipeline.”