Celldex Therapeutics Acquires Kolltan Pharmaceuticals For at Least $62.5 Mln

Celldex Therapeutics said it has agreed to acquire Kolltan Pharmaceuticals, a privately held clinical-stage company focused on the discovery and development of novel, antibody-based drugs targeting receptor tyrosine kinases (RTKs), for an upfront payment of $62.5 million.

In addition, Kolltan shareholders are eligible to receive additional payments of up to $172.5 million upon the completion of specific development, regulatory and commercial milestones

Celldex said it believes Kolltan’s clinical candidates and preclinical platform are highly compatible with the company’s scientific approach and can be developed independently and in combination with Celldex’s existing product candidates.

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