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BUSINESS
December 17, 1991 | From Times Staff and Wire Reports
Sandoz Buying 60% of California Biotech Firm: The Swiss pharmaceutical giant will take control of SyStemix Inc. of Palo Alto for $392 million, the firms announced. Sandoz plans a tender offer of $70 per share for 49% of SyStemix' common stock, or 4 million shares. Sandoz also said it will pay $111 million to buy nearly 2 million shares of SyStemix common stock at $56 per share.
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BUSINESS
December 17, 1991 | From Times Staff and Wire Reports
Sandoz Buying 60% of California Biotech Firm: The Swiss pharmaceutical giant will take control of SyStemix Inc. of Palo Alto for $392 million, the firms announced. Sandoz plans a tender offer of $70 per share for 49% of SyStemix' common stock, or 4 million shares. Sandoz also said it will pay $111 million to buy nearly 2 million shares of SyStemix common stock at $56 per share.
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BUSINESS
October 30, 1996 | Times Staff and Wire Reports
Palo Alto-based SyStemix Inc. said its independent directors rejected Sandoz Ltd.'s unsolicited offer to acquire the rest of the research company for about $67 million. . . . Saudi billionaire investor Prince al-Waleed bin Talal and Kingdom Entertainment, the company he jointly owns with U.S. pop star Michael Jackson, acquired 50% of Hollywood's Landmark Entertainment Group. . . . Van Nuys-based N.U. Pizza Corp.
BUSINESS
June 12, 1998 | Bloomberg News
Novartis won approval from a Delaware judge to settle a lawsuit that caused the world's largest drug company to boost the price it paid for biotechnology company SyStemix Inc. by almost $10 million. Sandoz Ltd., which later merged with Ciba-Geigy to form Novartis, offered $17 a share in May 1996 for the 27% of Palo Alto-based SyStemix that it didn't already own. Six suits filed by SyStemix shareholders in Chancery Court in Wilmington, Del., claimed the $66.3-million offer for 3.
NEWS
June 24, 1993 | SHERYL STOLBERG, TIMES MEDICAL WRITER
More than a decade into the search for a laboratory animal that develops AIDS in the same way humans do, two sets of California researchers say they have found one: a genetically altered mouse implanted with human immune cells. Their work, published today in separate articles in the journal Nature, means that scientists may have an inexpensive and rapid way to test new drugs and therapies for AIDS with some confidence that the same results would occur in humans.
NEWS
February 2, 1990 | THOMAS H. MAUGH II, TIMES SCIENCE WRITER
Researchers at a new Palo Alto company have demonstrated for the first time that a strain of mice with human immune systems can be used as a rapid and effective preliminary screen for new drugs against AIDS. Immunologist J. Mike McCune and his colleagues at SyStemix Inc. report in today's Science magazine that they have closely reproduced in the mice the effect of the drug AZT in humans, indicating the mice represent a comparatively inexpensive animal model for the disease.
BUSINESS
August 26, 2001 | DENISE GELLENE, TIMES STAFF WRITER
Thousands of white lab mice romp in germ-free containers at Stem Cells Inc. They look ordinary enough, but each of them has human stem cells growing in its brain. . It took 13 years and losses of $130 million for the company to reach this point, yet its scientists are far from finding a treatment for disease. They are not even sure whether the human stem cells inside the mice work. With luck, they'll have a chance to find out.
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