Paladin Labs Inc. (TSX: PLB) hit a 52 week high of $12.45 today. The company announced today that it as completed the acquisition of ViRexx Medical Corp. (TSX: VIR), a bankrupt biotechnology company with several promising technologies under development. Paladin, which provided $200,000 in November to keep ViRexx functioning while in bankruptcy, said Tuesday it acquired all of ViRexx outstanding shares after paying $1.2 million to its existing creditors.
