Drug maker Bristol-Myers Squibb said Monday it will acquire privately held Adnexus Therapeutics in a $430 million all-cash deal.
Biotechnology company Adnexus Therapeutics will become a subsidiary of Bristol-Myers and remain based in Waltham, Mass.
The companies said the acquisition of Adnexus will help advance Bristol-Myers's role in biologics and includes an early stage trial for cancer treatment candidate Angiocept. Angiocept is designed to be a so-called anti-angiogenic drug, or one that tries to stop cancerous tumors from developing new blood vessels.
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Biotechnology company Adnexus Therapeutics will become a subsidiary of Bristol-Myers and remain based in Waltham, Mass.
The companies said the acquisition of Adnexus will help advance Bristol-Myers's role in biologics and includes an early stage trial for cancer treatment candidate Angiocept. Angiocept is designed to be a so-called anti-angiogenic drug, or one that tries to stop cancerous tumors from developing new blood vessels.
More at Forbes
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