Jun. 10, 2014, 8:19 AM
- Celsion (CLSN) acquires privately-held biopharmaceutical firm EGEN for $14M in cash and stock. EGEN focuses on the development of nucleic acid-based therapeutics for cancer and other difficult-to-treat diseases.
- Under the terms of the acquisition agreement, Celsion will make an upfront payment of $10.6M in CLSN common stock and $3.4M in cash. $2.1M in stock will be held back for 24 months for expense adjustments and indemnification claims.
- Celsion will owe an additional $30.4M to EGEN based on the successful completion of certain development and licensing milestones.
CLSN vs. ETF Alternatives
Celsion Corpis a fully-integrated oncology drug development company. The Company is engaged in developing a portfolio of cancer treatments, including directed chemotherapies, immunotherapies and RNA- or DNA-based therapies.
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