deals, Biotech, pharma
FTC Clears Avant-Pfizer Deal for $40M
Gregory T. Huang 5/21/08
The Federal Trade Commission has cleared a licensing deal between New York-based Pfizer and Avant Immunotherapeutics, a Needham, MA-based drug company. The deal, worth an initial $40 million plus $10 million in Avant stock, is for a brain cancer vaccine called CDX-110 from the Celldex Therapeutics unit of Avant. Pfizer will also pay Avant fees of some $390 million to develop the vaccine, which is in clinical testing.
Gregory T. Huang is the Editor of Xconomy Seattle. You can e-mail him at gthuang@xconomy.com or call 206-624-2249.
