Andromeda Acquired In Deal That May Yield Hundreds Of Millions

February 26, 2014 | Israeli company Andromeda Biotech, which develops treatments for diabetes, will be acquired by an unnamed American pharmaceutical company for several million dollars. However, Clal Biotechnology Industries, the current owner of Andromeda, could receive hundreds of millions of dollars in future payments, providing Andromeda meets development, registration, and sales milestones.