Vaccitech acquires Avidea Technologies
UK clinical stage biopharma company Vaccitech (Nasdaq: VACC) yesterday announced that it has acquired USA-based Avidea Technologies.
The consideration to Avidea’s existing shareholders is $40 million (comprised of around $12.5 million in cash and $27.5 million in Vaccitech American Depository Shares) in addition to potential future payments that are conditioned upon the achievement of certain development milestones. The acquisition strengthens Vaccitech’s position as a leader in immunotherapies and vaccine, the UK firm said.
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