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Entelos Buying Iconix

Entelos Inc. (AIM: ENTL), a Foster City, Calif.-based developer of bio-simulation technologies for pharmaceutical R&D, has agreed to acquire Iconix Biosciences Inc., a Mountain View, Calif.-based developer of genomic technologies from drug developers. The deal is valued at up to $39.1 million in Entelos stock, including a $14.1 million initial consideration. Prior to going public on the AIM last year, Entelos had raised nearly $50 million in VC funding since its 1996 inception, from firms like Abingworth Management, Bear Stearns Health Innovations, Hewlett-Packard, Charles River Ventures, Brentwood Venture Capital and St. Paul Venture Capital. Iconix has raised around $45 million in total VC funding from Abingworth, Institutional Venture Partners, Kleiner Perkins Caufield & Byers, Motorola Ventures, Incypte Corp., Palladin Group and Lilly Ventures. www.entelos.com www.iconixpharm.com