Celldex Therapeutics, Inc. Enhances Precision Targeted Immunotherapy Platform with the Acquisition of CuraGen Corporation

Celldex Therapeutics, Inc. (Nasdaq: CLDX) announced it has entered into a definitive agreement to acquire CuraGen Corporation (Nasdaq: CRGN). The acquisition will add a portfolio of oncology-focused, fully-owned antibodies to Celldex’s Precision Targeted Immunotherapy Platform. Celldex will acquire CuraGen in a tax-free stock-for-stock transaction, which values CuraGen at approximately $94.5 million, subject to certain adjustments described within the definitive agreement. In addition to its pipeline, CuraGen is expected to have a cash balance of at least $54.5 million net of certain acquisition-related costs and CuraGen convertible debt at the transaction’s close, which is anticipated to...

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