Genetech is buying Tanox

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I saw this in my own Houston Chronicle this morning: [url="http://www.chron.com/disp/story.mpl/business/4327106.html"]http://www.chron.com/disp/story.mpl/business/4327106.html[/url] ------------- Dr. Nancy Chang, chairwoman of Houston biotechnology company Tanox, saw the venture she co-founded 20 years ago sell for $919 million. -------------

Nov. 11, 2006, 1:02AM [b]Biotech firm hits high note Sale of Tanox to a big-name company could help city's reputation in field[/b] By BRETT BRUNE

Copyright 2006 Houston Chronicle Nancy Chang chose biotech over a career in opera. And, as it turns out, she made the right choice

On Nov 11, 2006

Okay, so I didn't mean to misspell Genentech in the subject line. That really kills me how we can't make edits to subject lines if we started them!

On Dec 28, 2006

Bumping to compliment TNX-901 thread in research.

And an aside, it's been interesting to see what Nancy Chang has been doing since the sale. She seems like a Renaissance woman to me.

On Apr 2, 2007

Copyright 2007 American City Business Journals, Inc. All Rights Reserved Houston Business Journal

January 29, 2007 Monday

LENGTH: 188 words

HEADLINE: Genentech expects regulatory delay on Tanox deal

BODY:

Biotech giant Genetech Inc. said Monday it has received a request for more information from the U.S. Federal Trade Commission regarding its proposed $919 million acquisition of Tanox Inc.

The deal was originally expected to close in the first quarter. But the companies anticipate that the FTC's review could extend beyond the first quarter and that the transaction will now close sometime within the first half of the year.

South San Francisco-based Genentech (NYSE: DNA) and Tanox (NASDAQ: TNOX) of Houston said they are continuing to engage in active and productive discussions with the FTC and intend to "cooperate fully."

At a special meeting Jan.15, Tanox stockholders voted to approve the agreement providing for the merger of Tanox and a wholly owned subsidiary of Genentech.

The companies have not yet indicated whether any jobs would be lost as a result of the deal. The Houston Tanox facility has about 150 employees.

Founded in 1986, Tanox develops treatments for asthma, allergy, inflammation and infectious diseases. The firm went public in April 2000 in what was the largest initial public offering in biotech history.

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