Galileo Labs Acquires Phytera

Galileo Labs Acquires Phytera

SANTA CLARA, Calif.--Galileo Laboratories (www.galileolabs.com) acquired Phytera Ltd. in Sheffield, England, and the marine microbial libraries of Phytera Inc. in Worcester, Mass. The transaction was financed by cash and Galileo stock; terms were not disclosed. The acquisition broadens Galileo's plant species collection to 85 percent of the world's taxonomic orders.

"This acquisition strengthens our efforts in the discovery of therapeutics for redox failure and provides the basis for enlarging our intellectual property and strengthening our competitive position," said Guy Miller, chief executive officer of Galileo.