Cephalon seeks to takeover Australian biotech co.

FRAZER, Pa. Drug maker Cephalon plans to take over an Australian biotech company with a pipeline that includes treatments for inflammatory diseases and cancer.

Cephalon announced last week that it would offer $207 million for Arana Therapeutics. Arana’s independent directors have recommended that shareholders accept the offer. Cephalon said it would fund the takeover using part of its existing cash reserves.

“We are better equipped to take Arana?s lead compound, ART621, through clinical development and, pending the success of clinical trials, to international markets,” Cephalon CFO Kevin Buchi said in a statement, referring to a tumor necrosis factor alpha blocker that Arana is developing.