ROCKVILLE, Maryland, June 26 /PRNewswire/ --
Pinnacle Biologics, a private, full service pharmaceutical and biotech solutions company, today announced that it has entered into a preferred stock purchase transaction with MedImmune, LLC, pursuant to which MedImmune has acquired certain unspecified number of preferred stock shares of Pinnacle Biologics, Inc. The terms of the agreement were not disclosed.
Pinnacle Biologics owns the marketing and distribution rights to MedImmune's Ethyol(R), 50 mg/ml, powder for solution for infusion in Western Europe, Turkey and Israel.
"This is a highpoint for Pinnacle, as it signifies an additional milestone for our company," said Guillermo Herrera, Chairman of the Board of Pinnacle Biologics.
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