Celsion to acquire nucleic acid-based therapeutics firm EGEN

10 June 2014

US cancer drug developer Celsion Corp (Nasdaq: CLSN) has entered into a definitive asset purchase agreement with EGEN, a privately-held biopharmaceutical company focused on the development of nucleic acid-based therapeutics for the treatment of cancer and other difficult to treat diseases.

Celsion will acquire substantially all of the assets of EGEN, including its Phase Ib DNA-based immunotherapy product candidate EGEN-001 and its therapeutic platform technologies, TheraPlas for delivery of DNA and mRNA, TheraSilence for delivery of RNA, and RAST for cell enabled expression and secretion of RNA.

$14 million payable in stock and cash, plus $30 million milestone obligation

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