Co­herus to buy Sur­face On­col­o­gy in stock deal val­ued at $65M

Co­herus Bio­Sciences is mak­ing a small stock-for-stock trans­ac­tion to shore up its im­muno-on­col­o­gy pipeline in an ac­qui­si­tion of Sur­face On­col­o­gy that is val­ued at $65 mil­lion.

Both boards have ap­proved the deal, which is ex­pect­ed to close next quar­ter, the com­pa­nies said Fri­day morn­ing. Co­herus chair and CEO Den­ny Lan­fear told End­points News the deal came to­geth­er af­ter his biotech looked at the as­sets of about 200 com­pa­nies, and “Sur­face’s high sci­ence re­al­ly rose to the top very, very quick­ly.”

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