New Look for British Biotech

British Biotech's proposed merger with RiboTargets nets the company an entirely new discovery engine, but is only a first, small step in the downtrodden firm's transformation.

RiboTargets Ltd. 's investors got the biggest haircut, but British Biotech PLC , the scandal-tarnished one-time flagship of the UK's biotechnology industry, has emerged from a proposed £26 million ($40.7 million) merger with the brand-new look [See Deal].

Now British Biotech—which is also in the process of changing its name—will boast a new research platform, a new CEO...

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