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29 Jan 2012

Celgene and Avila Therapeutics Announce Acquisition Deal

Celgene will acquire Avila Therapeutics for $350 million in cash.

Celgene Corporation and Avila Therapeutics, Inc. have announced a definitive merger agreement under which Celgene Corporation will acquire Avila Therapeutics, Inc. The acquisition will be accounted for as a purchase transaction that Celgene expects to be completed during the first quarter of 2012. 


The acquisition positions Celgene to expand its leading role in the future treatment of hematologic cancers with Avila's AVL-292, a highly-selective Bruton's tyrosine kinase (Btk) inhibitor, currently in phase I clinical development.


In addition, Avila's proprietary Avilomics Platform augments Celgene's investment in the discovery and development of novel therapeutics for managing complex disorders. <

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