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Takeover Target?

Elan to Spin Out Drug Discovery into Neotope

By Cormac Sheridan
Staff Writer

Tuesday, August 14, 2012
DUBLIN, Ireland – Elan Corp. plc is hiving off its early stage neurology drug discovery activity into a new entity, Neotope Biosciences, which will begin life with $120 million to $130 million in cash and seek a listing on an as yet to be determined U.S. exchange.

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