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Searle pays CAT $212mm for MAb-based therapeutics
15 Feb 2000
Executive Summary
In a five-year agreement to jointly develop fully human MAb-based therapeutics in various therapeutic areas, but mostly for cancer, Searle (Monsanto's pharmaceutical division) will make an up-front equity investment of (uf)$12.5mm for 1.8mm shares (a 6.9% stake) in Cambridge Antibody Technology. The price paid per share, $6.68, represents a (pr)15% premium to CAT's 20-day average pre-announcement price.
Deal Industry
- Pharmaceuticals
-
Biotechnology
- Large Molecule
-
Large Molecule
- Antibodies
-
Drug Discovery Tools
- Genomics-Proteomics
Deal Status
- Final
Deal Type
-
Alliance
- Includes Equity
- R&D and Marketing (Licensing)
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Searle pays CAT $212mm for MAb-based therapeutics
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