Biogen Idec Acquires StroMedix for $562,500,000
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Feed Type
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Link
http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=540c612f-0e79-4e2f-bbef-5011c83e9ee7&Preview=1 -
Date
2/14/2012 -
Company Name
StroMedix -
Mailing Address
One Canal Park Cambridge, MA 02141 -
Company Description
Stromedix is a clinical-stage biotechnology company committed to developing novel drugs to treat fibrotic organ failure. Stromedix will focus initially on chronic indications but plans to leverage its expertise and expand its therapeutic pipeline into related settings such as acute organ failure and cancer. The company plans to build its pipeline through both internal drug discovery and in-licensing. -
Website
http://www.stromedix.com -
Transaction Type
M&A -
Transaction Amount
$562,500,000 -
Transaction Round
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Proceeds Purposes
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M&A Terms
Under the terms of the agreement, Biogen Idec will make an upfront cash payment of $75 million and additional contingent value payments of up to $487.5 million based on the achievement of certain development and approval milestones across multiple indications.
