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Searle pays CAT $212mm for MAb-based therapeutics

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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