Spectrum Pharma adds to hematology and oncology portfolio with acquisition
US biotech firm Spectrum Pharmaceuticals (Nasdaq: SPPI) says that it has entered into an agreement to acquire Talon Therapeutics (OTCBB: TLON), a biopharmaceutical company based in South San Francisco, California, and expects to complete the acquisition within one day.
In connection with the closing of the acquisition, Spectrum will pay Talon stockholders an aggregate upfront cash consideration of around $11.3 million and will issue 3 million shares of its common stock in exchange for the cancellation of all of the outstanding indebtedness under Talon’s credit facility.
Plus $195 contingent payments
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