Gilead To Buy Cell Design Labs For Up To $567 Million
Drugmaker Gilead Sciences Inc said on Thursday it had agreed to acquire privately-held Cell Design Labs Inc for up to $567 million to boost its CAR-T cancer drug pipeline.
The deal includes shares already held by Kite Pharma Inc, which Gilead bought earlier this year.
Gilead said it would make an initial upfront payment to Cell Design of about $175 million and additional payments of up to $322 million upon meeting certain milestones.
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