Celldex to pay $235 million to acquire Kolltan Pharma

2 November 2016

US drug developer Celldex Therapeutics (Nasdaq: CLDX) has entered into a definitive agreement to acquire Kolltan Pharmaceuticals, a privately held clinical-stage company focused on the discovery and development of novel, antibody-based drugs targeting receptor tyrosine kinases (RTKs).

Celldex believes Kolltan’s clinical candidates and preclinical platform are highly compatible with the company’s scientific approach and can be developed independently and in combination with Celldex’ existing product candidates. The proposed deal comes after Celldex’ most advanced cancer drug - the brain cancer (glioblastoma) vaccine Rintega (rindopepimut) - failed a Phase III trial in March. Celldex shares were up 1.44% to $3.17 in morning trading today.

Transaction Terms

This article is accessible to registered users, to continue reading please register for free. A free trial will give you access to exclusive features, interviews, round-ups and commentary from the sharpest minds in the pharmaceutical and biotechnology space for a week. If you are already a registered user please login. If your trial has come to an end, you can subscribe here.

Try before you buy

Free

7 day trial access

Take a Free Trial

All the news that moves the needle in pharma and biotech
Exclusive features, podcasts, interviews, data analyses and commentary from our global network of life sciences reporters.
Receive The Pharma Letter daily news bulletin, free forever.

Become a subscriber

£820

Or £77 per month

Subscribe Now

Unfettered access to industry-leading news, commentary and analysis in pharma and biotech.
Updates from clinical trials, conferences, M&A, licensing, financing, regulation, patents & legal, executive appointments, commercial strategy and financial results.
Daily roundup of key events in pharma and biotech.
Monthly in-depth briefings on Boardroom appointments and M&A news.
Choose from a cost-effective annual package or a flexible monthly subscription

The Pharma Letter is an extremely useful and valuable Life Sciences service that brings together a daily update on performance people and products. It’s part of the key information for keeping me informed

Chairman, Sanofi Aventis UK