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Corporate
Panacea Biotec to acquire stake in US firm

MUMBAI: Vaccines maker Panacea Biotec Ltd said on Wednesday that it will invest $13.1 million in U.S.-based PharmAthene Inc in exchange for shares and warrants as part of a strategic alliance.

Panacea, through its unit Kelisia Holdinags Ltd, will acquire 3.73 million shares at $3.50 each and 12-month warrants to buy up to 2.75 million shares at an exercise price of $5.10 a share, Panacea said in a statement.

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