Sullivan & Cromwell Reps Amgen In $1B BioVex Deal

Law360, New York (January 25, 2011, 2:11 PM EST) -- Amgen Inc. has agreed to pay up to $1 billion to acquire Woburn, Mass.-based biotechnology company BioVex Group Inc., the maker of an experimental cancer vaccine.

In an announcement Monday, Thousand Oaks, Calif.-based Amgen said that it will pay $425 million when the deal closes following regulatory approval, expected in the first quarter of the year.

In addition, Amgen will make up to $575 million in payments upon the achievement of certain regulatory and sales milestones, the company said.

BioVex is developing a vaccine called OncoVEX,...
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