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Targegen Acquisition Could Be Worth as Much as $560M

July 1, 2010 By San Diego Business Journal

Targegen Inc., a San Diego biotech developing a drug to treat blood diseases, agreed to be acquired by Sanofi-Aventis, a French public company for what could be $560 million if the company reaches certain milestones, the local firm said June 30.

Formed in 2001, Targegens most advanced drug is TG101348, which has completed second phase clinical trials and is in the process of the final round of trials involving larger numbers of patients. The drug could potentially be used to treat certain types of leukemia, lymphoma and other types of malignancies and blood disorders, the firm said.

The deal calls for Sanofi-Aventis to advance $75 million, and make payments as the firm continues its drug development. The transaction is expected to be completed in the third quarter.

– Mike Allen

SOURCE

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  • Home
  • Medical Device Business
    • Mergers & Acquisitions
    • Financial
    • Regulatory
  • Applications
    • Cardiovascular
    • Devices
    • Imaging
    • Implantables
    • Medical Equipment
    • Orthopedic
    • Surgical
  • Technologies
    • Contract Manufacturing
    • Components
    • Electronics
    • Extrusions
    • Materials
    • Motion Control
    • Prototyping
    • Pumps
    • Tubing
  • Med Tech Resources
    • DeviceTalks Tuesdays
    • Digital Editions
    • eBooks
    • Manufacturer Search
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    • MedTech 100 Index
    • Podcasts
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  • 2022 Leadership in MedTech
    • 2022 Leadership Voting!
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