BioMarin Buys LEAD Therapeutics of California and Shanghai

BioMarin Pharmaceutical of Novato, California, will acquire LEAD Therapeutics of San Bruno, California and Shanghai, a drug discovery company that has a strategic relationship with  ShangPharma, a CRO. ShangPharma has a scientific staff dedicated to doing LEAD’s chemistry work, and it has made an investment in ShangPharma. BioMarin will pay $18 million upfront and an additional $11 million when LEAD’s key compound files for IND. More details... Stock Symbol: (NSDQ: BMRN)