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News
9 Mar 2012

Celgene Completes Acquisition of Avila

Celgene acquired Avila Therapeutics for $350 million in cash, plus up to $575 million contingent upon certain milestones related to AVL-292 and candidates from Avila's discovery program.

New Jersey-based biopharmaceutical company Celgene Corporation announced Thursday it has completed its acquisition of privately held biotechnology company Avila Therapeutics.

 

Celgene acquired Avila Therapeutics for $350 million in cash, plus up to $575 million contingent upon certain milestones related to AVL-292 and candidates from Avila's discovery program.

 

The transaction provides Celgene with a highly-selective Bruton's tyrosine kinase inhibitor, currently in phase I clinical development, as well as a unique discovery platform, Avilomics, for developing targeted covalent drugs that treat diseases through protein silencing.

 

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