Genzyme, Novazyme to Merge

August 10, 2001 — CAMBRIDGE, MA — Pharmaceutical giant Genzyme Corp. will acquire Oklahoma City biotech company Novazyme for about $225 million in stock.

The deal, which was announced earlier this week, is expected to close during the third quarter.

Novazyme develops biotherapies based on technologies for targeted delivery of missing enzymes. Officials from Genzyme say those technologies could lead to better products for the treatment of lysosomal storage disorders.

“The acquisition of Novazyme is consistent with out commitment to develop the best possible products for patients,” said Henri A. Termeer, CEO of Genzyme. “Novazyme has created a promising protein technology platform that complements our own and that could have a profound impact on our efforts to develop improved therapies for patients with lysosomal storage disorders.”

Novazyme officials say they expect the Oklahoma City facility to grow from 70 to 100 employees over the next year.

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