In Brief: Paracelsian
This article was originally published in The Tan Sheet
Paracelsian: Signs option to purchase all outstanding shares of U.K.-based East West Herbs, Ltd. in a deal valued at about $3.2 mil. East West Herbs markets traditional Chinese medicines directly and through distributors in Europe, South Africa, Australia, Canada and the U.S. Ithaca, N.Y.-based Paracelsian, a biotech company, is hoping East West will provide it with the "expertise and infrastructure" to sell its herbal pharmaceuticals. The firm currently is researching the Chinese herbal extract PN355 as a potential treatment for HIV and cancer ("The Tan Sheet" Jan. 15, p. 7)...
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