Cephalon To Acquire Gemin X

Cephalon has signed a contract to acquire Gemin X Pharmaceuticals. The merge is expected to close in 2Q11.

Cephalon, Inc. has inked a definitive merger deal to acquire Gemin X Pharmaceuticals, Inc., a privately-held biopharmaceutical company, for $225 million cash. The merger is expected to close in 2Q11.

Gemin X stockholders could also receive as much as $300 million in cash payments based on certain regulatory and sales milestones. The agreement is subject to customary closing conditions including the necessary regulatory approvals.

Gemin X is developing a pipeline of targeted cancer therapeutics based on reinitiating programmed forms of cell death, including apoptotic and autophagic cell death, as well as the inhibition of metabolism in cancer cells. Gemin X’s lead product candidate, oba