On 9 November 2006, Texas-based biotech Tanox experienced a massive jump in its share price. The 45% increase was thanks to the announcement from biotech giant Genentech that it plans to acquire the small antibody technology company for US$20 per share, or approximately US$919 M, using its enormous cash reserves. The deal is significant for both parties, not least for Genentech as it marks the first business acquisition in the company's 30-year history. For Tanox, one could argue that its future has been secured, with guaranteed future cash injection into its not unimpressive pipeline. In addition, it is worthy of note that the acquisition was based in large part on the existing collaboration that the two companies have enjoyed since 1996.