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Nov 25, 2008

Roche to Acquire Memory Pharmaceuticals for $50M

  • Roche and Memory Pharmaceuticals inked a definitive merger agreement whereby Roche will  acquire all the outstanding shares of Memory Pharmaceuticals in an all-cash transaction for an aggregate price of approximately $50 million.

    Under the terms of the merger agreement, Roche will commence a tender offer for all Memory’s common stock at a price of $0.61 per share in cash. This price represents a 319% premium to the closing price yesterday.

    Memory Pharmaceuticals develops drug candidates for the treatment of central nervous system disorders such as Alzheimer's disease and schizophrenia. Memory Pharmaceuticals' nicotinic alpha-7 agonist drug candidates in these disease areas are already in partnered programs with Roche: R3487/MEM 3454 is in Phase II clinical trials for Alzheimer's disease and schizophrenia; R4996/MEM 63908 is in Phase I for Alzheimer's disease.

    "Acquiring Memory Pharmaceuticals will enable Roche to secure the future development of its promising nicotinic alpha-7 agonists," said William Burns, CEO Division Roche Pharmaceuticals. "The innovative work carried out by the scientists at Memory Pharmaceuticals will be fully integrated into Roche's R&D portfolio."



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Scientifically Studying Ecstasy

MDMA (commonly known as the empathogen “ecstasy”) is classified as a Schedule 1 drug, which is reserved for compounds with no accepted medical use and a high abuse potential. Two researchers from Stanford, however, call for a rigorous scientific exploration of MDMA's effects to identify precisely how the drug works, the data from which could be used to develop therapeutic compounds.

Do you agree that ecstasy should be studied for its potential therapeutic benefits?

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