Future Medical Products Inc. on Thursday announced itsacquisition of a controlling interest in Devaron Inc. Terms werenot disclosed.
Devaron is a private Dayton, N.J., company that develops,manufactures and markets immunological reagents anddiagnostic kits based on a line of monoclonal antibodies.
Devaron has a proprietary technology for producing monoclonalantibodies that is 10 to 100 times faster than conventionalmethods, according to Yair Devash, FMPI chairman. The methodinvolves the manipulation of the mouse immune system, hesaid.
"We will challenge any company that is interested," saidDevash. "They can send us an antigen at the milligram level,and eight weeks later we will send them the monoclonalantibody."
Shares of the Hauppauge, N.Y., company (NASDAQ:FMPI) closedat $2.88, up 6 cents. -- SU
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