Celldex Therapeutics (NASDAQ:[[ticker:CLDX]]), a Needham, MA-based developer of drugs that harness the power of the immune system to treat diseases, says that it has struck a deal to acquire CuraGen (NASDAQ:[[ticker:CRGN]]), of Branford, CT, in an all-stock transaction that values CuraGen at $94.5 million. Celldex expects to gain 11 cancer antibody drugs from CuraGen as well as at least $54.5 million in cash that CuraGen is due to have in the bank at the closing, which is slated for the third quarter of 2009.
Author: Ryan McBride
Ryan is an award-winning business journalist who contributes to our life sciences and technology coverage. He was previously a staff writer for Mass High Tech, a Boston business and technology newspaper, where he and his colleagues won a national business journalism award from the Society of American Business Editors and Writers in 2008. In recent years, he has made regular TV appearances on New England Cable News.
Prior to MHT, Ryan covered the life sciences, technology, and energy sectors for Providence Business News. He graduated with honors from the University of Rhode Island in 2001 with a bachelor’s degree in communications. When he’s not chasing down news, Ryan enjoys mountain biking and skiing in his home state of Vermont.
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