Friday, August 21, 2009

Medicinova Buys Avigen

San Diego-based MediciNova, a biotech firm developing small-molecule therapeutics, said Friday that it has reached an agreement with Alameda-based Avigen to merge with the firm. Medicinova said Avigen shareholders would receive either $1.24 per share in cash, or secured convertible notes. The deal is worth approximately $37M. Both firms are publicly held.