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news.Fero Industries has entered into an interim agreement with Pyro Pharmaceuticals, a developer of therapeutics for multi-drug resistant infectious microorganisms.
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A definitive agreement will be entered into as soon as possible but no later than January 15, 2009, with closing to occur on or before February 27, 2009 and will be subject to certain terms and conditions, the two companies said.
The definitive agreement will provide for the exchange of each of the company’s common stock, with Fero remaining as the parent entity and Pyro a wholly owned subsidiary.