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Neuren Buying Hamilton Pharma

Neuren Pharmaceuticals (ASX: NEU) has agreed to acquire Hamilton Pharmaceuticals Inc., a Washington, D.C.-based drug developer focused on CNS disorders, for US$4.4 million of Nueren ordinary shares and a variety of milestone-based earnouts. In addition, Hamilton shareholders Vivo Ventures and CNF Investments have agreed to invest $3 million into Neuren. Hamilton Pharmaceuticals had raised an $11 million Series A round in April 2005 from Vivo, CNF and Index Ventures.