Clinical Data Inc. (CLDA.O: Quote, Profile, Research) on Tuesday said it agreed to acquire biotechnology company Icoria Inc. (ICOR.OB: Quote, Profile, Research) for about $12.5 million in stock.
Under the terms of the agreement, Icoria shareholders will get 0.0139 share of Clinical Data common stock for each share of Icoria, the companies said in a statement.
Based on Clinical Data's closing price on Friday, the terms represent a price for Icoria of 32 cents per share, the companies said.