Smith & Nephew PLC (SN.LN) said Wednesday its advanced wound management unit has signed a definitive agreement to buy most of the assets of Nucryst Pharmaceuticals Corp. (NCS.T) for an initial $21 million, to be adjusted at closing for working capital changes.

MAIN FACTS:

-Smith & Nephew will acquire the manufacturing assets from Nucryst's Fort Saskatchewan, Canada operations and the intellectual property estate.

-Terms of acquisition are pending approval by Nucryst shareholders and the transaction is anticipated to close before the end of the year.

 
-By London Bureau, Dow Jones Newswires; Contact Ian Walker; +44 (0)20 7842 9296; ian.walker@dowjones.com
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