Celgene Snags Cancer Treatment Co. Avila For $350M

Law360, New York (January 26, 2012, 5:41 PM EST) -- Celgene Corp. has paid $350 million in cash to acquire Avila Therapeutics Inc., a biotechnology company whose potential cancer treatment has shown promise in clinical studies, Celgene said Thursday.

The acquisition of Bedford, Mass.-based Avila and its AVL-292 treatment allows Celgene to further expand its research of novel therapies for hematology, oncology and autoimmune diseases, Celgene said. Depending on the development and regulatory approval of AVL-292, Celgene may pay up to $195 million in additional milestone payments under the deal, Celgene said.

Celgene viewed Avila’s approach...
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