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...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.