Post-PhI­II im­plo­sion, Celldex buys on­col­o­gy drug de­vel­op­er Koll­tan in $235M deal

Eight months af­ter watch­ing ex­pec­ta­tions for its can­cer vac­cine Rin­te­ga (rindopepimut) im­plode in a failed Phase III glioblas­toma study, Celldex Ther­a­peu­tics $CLDX is do­ing some pipeline re­con­struc­tion, buy­ing out Koll­tan Phar­ma­ceu­ti­cals in an all-stock deal.

Koll­tan in­vestors get $62.5 mil­lion in Celldex stock up front, along with $172.5 mil­lion for a slate of mile­stones in the deal. In ex­change, Celldex gets a pipeline of on­col­o­gy pro­grams con­sist­ing of an­ti­body-based drugs tar­get­ing re­cep­tor ty­ro­sine ki­nas­es, or RTKs.

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