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BioMarin Pharmaceutical Inc. (Nasdaq: BMRN) announced today that it has entered into a stock purchase agreement to acquire LEAD Therapeutics, Inc. (LEAD), a small private drug discovery and early stage development company with key compound LT-673, an orally available poly (ADP-ribose) polymerase (PARP) inhibitor for the treatment of patients with rare, genetically defined cancers.

LEAD Therapeutics, a privately held drug discovery company, announced the discovery of a novel antibiotic with potent activity against many of the most common antibiotic resistant bacteria. LEAD will present the new glycopeptide antibiotic, LT-29, for the first time at the 49th Interscience Conference on Antimicrobial Agents and Chemotherapy (ICAAC). LT-29 is in preclinical development to treat serious infections caused by methicillin-resistant Staphylococcus aureus (MRSA) and other gram-positive bacteria.

LEAD Therapeutics, Inc., a chemistry-driven drug discovery company based in the San Francisco Bay Area, today announced it has entered into a strategic research collaboration with Shanghai ChemPartner in China, the wholly owned subsidiary of ShangPharma. In conjunction with this collaboration, China Gateway Life Science (Holding) Ltd., the strategic investment arm of ShangPharma, has made an equity investment in LEAD Therapeutics. Previously announced investors include Pappas Ventures, ProQuest Investments, and Mustang Ventures.

LEAD Therapeutics, Inc., a chemistry-driven drug discovery company, today announced it has raised $17 million in Series A financing co-led by Pappas Ventures and ProQuest Investments. Also participating in this financing round is Mustang Ventures, a China-focused venture firm.