Menlo Park-Based Conor Medsystems Acquires Phytogen Life Sciences

Menlo Park, Calif. -- Conor Medsystems, a Menlo Park-based developer of drug
delivery technologies, said on Tuesday that it has acquired Phytogen Life
Sciences for approximately $3.8 million. Phytogen filed for bankruptcy in July.
Prior to that, however, it supplied Conor with paclitaxel, a drug used to treat
certain types of cancer. Conor said that it plans to sell most of the assets acquired
in the deal, except for an amount of finished paclitaxel that it needs to meet its
investigational and commercial needs for "many years."
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