Ligand scoops up Pfenex for up to $516M, adding proteins to their antibody chickens and delivery tech
The technology hunting folks over at Ligand Pharmaceuticals have picked up a new one from across town, for a significant price.
Ligand has acquired fellow San Diego-based biotech Pfenex and their protein expression platform for $438 million cash, plus $78 million in contingent value agreements should an undisclosed milestone be hit before the end of next year. The deal pays $12 per share, or $4.34 more than what Pfenex had been trading at before the announcement.
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