Celldex Therapeutics Announces Completed Acquisition of CuraGen Corporation
01 Outubro 2009 - 3:29PM
Business Wire
Celldex Therapeutics, Inc. (Nasdaq: CLDX) announced today the
successful completion of its acquisition of CuraGen Corporation
(Nasdaq: CRGN) pursuant to the previously disclosed Agreement and
Plan of Merger, dated as of May 28, 2009, by and among CuraGen,
Celldex and Celldex’s merger subsidiary, Cottrell Merger Sub, Inc.
The Agreement and Plan of Merger was approved by CuraGen’s
stockholders and the issuance of shares of Celldex common stock was
approved by Celldex’s stockholders at special stockholder meetings
held on September 30, 2009. Concurrent with the closing of the
merger, Celldex added one position to its Board of Directors and
Dr. Timothy Shannon, President and Chief Executive Officer of
CuraGen, joined the Celldex Board of Directors.
“Celldex is focused on advancing our pipeline of targeted
immunotherapeutics and we look forward to integrating CuraGen’s
assets to augment our Precision Targeted Immunotherapy Platform,”
stated Anthony Marucci, President and Chief Executive Officer of
Celldex. “We’ve also significantly strengthened our balance sheet
and look forward to a very productive and promising 2010.”
The purchase price for CuraGen was approximately $93.5 million
after giving effect to the adjustments described in the Agreement
and Plan of Merger to reflect CuraGen’s net cash balance of
approximately $53.5 million. As a result of the merger, CuraGen has
become a wholly owned subsidiary of Celldex.
About Celldex Therapeutics, Inc.
Celldex Therapeutics is an integrated biopharmaceutical company
that applies its comprehensive Precision Targeted Immunotherapy
Platform to generate a pipeline of candidates to treat cancer and
other difficult-to-treat diseases. Celldex’s immunotherapy platform
includes a complementary portfolio of monoclonal antibodies,
antibody-targeted vaccines and immunomodulators to create novel
disease-specific drug candidates. For more information, please
visit http://www.celldextherapeutics.com.
Safe Harbor Statement Under the Private Securities Litigation
Reform Act of 1995: This release contains “forward-looking
statements” made pursuant to the safe harbor provisions of the
Private Securities Litigation Reform Act of 1995, including those
related to the Company's strategic focus and the future development
and commercialization of our programs. Forward-looking statements
reflect management's current knowledge, assumptions, judgment and
expectations regarding future performance or events. Although
management believes that the expectations reflected in such
statements are reasonable, they give no assurance that such
expectations will prove to be correct and you should be aware that
actual results could differ materially from those contained in the
forward-looking statements. Forward-looking statements are subject
to a number of risks and uncertainties, including, but not limited
to, the successful integration of the businesses, multiple
technologies and programs of CuraGen and Celldex; our ability to
adapt APC Targeting TechnologyTM to develop new, safe and effective
vaccines against oncology and infectious disease indications; our
ability to successfully complete product research and further
development of our programs; the uncertainties inherent in clinical
testing; our ability to manage research and development efforts for
multiple products at varying stages of development; Pfizer’s and
our strategy and business plans concerning the continued
development and commercialization of CDX-110; the timing, cost and
uncertainty of obtaining regulatory approvals; the failure of the
market for the Company's programs to continue to develop; the
inability to obtain additional capital; the inability to protect
the Company's intellectual property; the loss of any executive
officers or key personnel or consultants; competition; changes in
the regulatory landscape or the imposition of regulations that
affect the Company's products; and other risks detailed from time
to time in the Company's filings with the Securities and Exchange
Commission, including the Company's Form 10-K for the fiscal year
ended December 31, 2008, and its Forms 10-Q and
8-K.
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