Teva Acquires Rexahn Stock

20 January 2011 (Last Updated January 20th, 2011 18:30)

Israel-based Teva Pharmaceutical has acquired $3.95m of Rexahn stock in a private offering. Teva has now taken a 6.29% stake in the company, which is in the process of developing drugs to treat cancer and central nervous system disorders. Rexahn confirmed that the investme

Israel-based Teva Pharmaceutical has acquired $3.95m of Rexahn stock in a private offering.

Teva has now taken a 6.29% stake in the company, which is in the process of developing drugs to treat cancer and central nervous system disorders.

Rexahn confirmed that the investment will be used to fund research and development of potential cancer-busting compound RX-3117.