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Bristol-Myers Squibb Company (Princeton, NJ) and Adnexus Therapeutics announced the companies have signed a definitive agreement under which Bristol-Myers Squibb will acquire privately held Adnexus Therapeutics, developer of a new therapeutic class of biologics called Adnectins.
Under the terms of the agreement Bristol-Myers Squibb will acquire all of Adnexus' issued and outstanding shares of capital stock and stock equivalents in an all-cash transaction for a gross purchase price of $430 million, with the net purchase price being $415 million after deducting Adnexus' net cash balance at closing.
of New York agreed to buy closely held Adnexus Therapeutics of Waltham for $430 million to gain an experimental cancer medicine.
Huic documento est Modus Procedendi in Circulis Minoribus adnexus.
Previously she worked for Flagship Ventures helping the start of several high-tech/biotech companies including Adnexus Therapeutics, Epitome Biosystems and BG Medicine.
"As a next-generation biopharma company, Bristol-Myers Squibb seeks to reallocate resources to enable strategic acquisitions [such as the recent purchase of Adnexus Therapeutics] as well as pursue partnerships and other collaborative arrangements," says a company statement.
Bristol-Myers Squibb Co., for example, said it will buy Waltham, Mass.-based Adnexus Therapeutics.
Adnexus is a developer of a new therapeutic class of biologics called Adnectins.
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