Predix Pharmaceuticals to be acquired

Predix President and CEO Dr. Michael G. Kauffman will become the CEO of the combined company.

Ramat Gan-based Predix Pharmaceuticals Holdings, Inc. has agreed to be acquired by US-based EPIX Pharmaceuticals Inc. for $90 million, including the assumption of net debt at closing. EPIX will pay shareholders of privately held Predix approximately $35 million in cash, stock, or a combination of both, depending on the achievement of certain clinical and strategic milestones, as well as 47% of the combined company's shares outstanding. Predix President and CEO Dr. Michael G. Kauffman will become the CEO of the combined company.