PPD ACQUIRES BIOMARKER BUSINESS FROM CALIFORNIA COMPANY

PPD has struck a deal to buy the biomarker business of Menlo Park, Calif.-based SurroMed. The complex financial structure of the deal includes several parts. Under the terms of the agreement, PPD will surrender for cancellation its shares of SurroMed preferred stock and will assume $3.4 million of liabilities under capital leases and additional operating liabilities associated with SurroMed's biomarker business.

Triangle Business Journal (http://www.bizjournals.com/triangle/stories/2005/01/17/daily8.html)