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Purdue ends Infinity partnership, buys $27.5M in stock

Wed, 07/18/2012 - 12:00am
Mass High Tech: The Journal of New England Technology

Infinity Pharmaceuticals Inc. (Nasdaq: INFI) announced that its research and development collaboration with Purdue Pharmaceutical Products LP has been terminated, but that Purdue will take a $27.5 million equity stake in Infinity. Investors breathed a sigh of relief at the outcome of the restructured contract, buoying Infinity’s stock by more than 7 percent.

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