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May 29, 2009

CellDex to Buy CuraGen in Deal Valued at $94.5M

CellDex to Buy CuraGen in Deal Valued at $94.5M

New deal with CuraGen nets Celldex $54.5M in cash

  • CellDex Therapeutics will acquire CuraGen in a stock-for-stock swap that values Curagen at $94.5 million. The deal, which is expected to close in the third quarter, will combine CellDex' targeted immunotherapy platform with Curagen's antibodies.

    Curagen reportedly has 11 fully owned oncology antibodies, one of which is in clinical development. CR011 is currently in Phase II studies in breast cancer and unresectable stage III and IV melanoma. It is also in preclinical development as a treatment for brain tumors.

    "This acquisition further strengthens Celldex's intellectual property estate and balance sheet, providing cash resources to advance our clinical development programs into 2012," remarks Anthony Marucci, CellDex president and CEO. 

    CellDex is focused on innovative targeted immunotherapeutics for cancer as well as infectious and inflammatory diseases. Its lead candidate, CDX-110, is partnered with Pfizer and is currently undergoing a Phase II trial in newly diagnosed glioblastoma multiforme. Next in line is CDX-1307, which is currently enrolling in a Phase I study in epithelial tumors. CellDex has one clinical candidate in its inflammatory disease program and two in its infectious disease initiative.




    ♦♦♦
    Past News from CellDex

    Celldex Licenses Cholera and ETEC Vaccine Programs to Vaccine Technologies (Jan. 20, 2009)
    Celldex Enters Licensing Deal to Develop CD27 mAbs for Cancer (Nov. 11, 2008)
    Rotarix Launch Results in $10M Payment to Celldex (Oct. 2, 2008)
    Avant Stock Spikes after Merger Agreement with Celldex (Oct. 27, 2007)
    Celldex Therapeutics and LICR Sign Cancer Antigen License and Research Agreement (Oct. 23, 2006)



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