SOURCE: Ardea Biosciences, Inc.

Ardea Biosciences, Inc.

June 20, 2012 08:00 ET

AstraZeneca Completes Acquisition of Ardea Biosciences

SAN DIEGO, CA--(Marketwire - Jun 20, 2012) - AstraZeneca today announced that on Tuesday, June 19, 2012 it completed its acquisition of San Diego, California-based biotechnology company Ardea Biosciences, Inc. The merger was approved by Ardea's stockholders.

Upon completion of the merger, each outstanding share of Ardea common stock was cancelled and converted into the right to receive $32.00, in cash, without interest, and shares of Ardea common stock ceased trading on the NASDAQ Global Select Market.

As previously announced, the acquisition strengthens AstraZeneca's late-stage pipeline with the addition of lesinurad, a potential next-generation treatment for the chronic management of hyperuricaemia in patients with gout.

About AstraZeneca

AstraZeneca is a global, innovation-driven biopharmaceutical business with a primary focus on the discovery, development and commercialisation of prescription medicines for gastrointestinal, cardiovascular, neuroscience, respiratory and inflammation, oncology and infectious disease. AstraZeneca operates in over 100 countries and its innovative medicines are used by millions of patients worldwide. For more information please visit: www.astrazeneca.com

About Ardea

Ardea is a biotechnology company based in San Diego, California, focused on the development of small-molecule therapeutics for the treatment of serious diseases. Ardea's most advanced clinical-stage product candidates include lesinurad, formerly known as RDEA594, a selective, oral URAT1 transporter inhibitor for the chronic management of hyperuricemia in patients with gout, and BAY 86-9766, formerly known as RDEA119, a specific inhibitor of mitogen-activated ERK kinase (MEK) for the treatment of cancer, which is being developed under a global license agreement with Bayer HealthCare AG. For more information, please visit: www.ardeabio.com

Contact Information

  • ARDEA CONTACTS

    Stephen Davis
    (858) 652-6528
    sdavis@ardeabio.com

    John Beck
    (858) 652-6523
    jbeck@ardeabio.com

    ASTRAZENECA CONTACTS

    Media Enquiries
    Esra Erkal-Paler
    +44 20 7604 8030

    Sarah Lindgreen
    +44 20 7604 8033

    Investor Enquiries UK
    James Ward-Lilley
    +44 20 7604 8122
    mob: +44 7785 432613

    Karl Hard
    +44 20 7604 8123
    mob: +44 7789 654364

    Nicklas Westerholm
    +44 20 7604 8124
    mob: +44 7585 404950

    Investor Enquiries US
    Ed Seage
    +1 302 886 4065
    mob: +1 302 373 1361

    Jorgen Winroth
    +1 212 579 0506
    mob: +1 917 612 4043