You can now read 10 articles in a month for free on BostonGlobe.com. Read as much as you want anywhere and anytime for just 99¢.

The Boston Globe

Business

Biogen Idec agrees to buy Stromedix in deal worth up to $562m

Biogen Idec Inc., a large biotechnology company based in Weston, said it has agreed to buy Stromedix Inc., a privately held biotechnology company focused on therapies for fibrosis and organ failure.

Under the agreement, Biogen Idec said it will make an upfront cash payment of $75 million and additional contingent value payments of up to $487.5 million based on the achievement of development and approval milestones.

Loading comments...

You have reached the limit of 10 free articles in a month

Stay informed with unlimited access to Boston’s trusted news source.

  • High-quality journalism from the region’s largest newsroom
  • Convenient access across all of your devices
  • Today’s Headlines daily newsletter
  • Subscriber-only access to exclusive offers, events, contests, eBooks, and more
  • Less than 25¢ a week