Exelixis Fishes Artemis Out of the Ice of Germany's Biotech Winter
Exelixis Pharmaceuticals Inc.'s acquisition of its Artemis Pharmaceuticals GMBH affiliate makes strategic sense. But the bargain price paid sends a clear and frightening signal to investors in German start-ups: the real values of some of these companies--even some of those with the highest profiles--may be approaching fire-sale levels.
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