Amgen acquires ONXY as predicted and....CLDX value keeps going UP on news!
and a small Follow on acquisition by AZ pf Amplimmune shows again that Cancer space is very HOT...
AstraZeneca to buy U.S. cancer firm for up to $500 mln
LONDON, Aug 26 (Reuters) - AstraZeneca Plc took a further step to bolster its pipeline of new cancer drugs on Monday by agreeing to acquire privately held U.S. biotech company Amplimmune for up to $500 million.
The deal is the second within 24 hours in the cancer drug space, following Amgen Inc's much larger acquisition of Onyx Pharmaceuticals Inc for about $10.4 billion.
Amplimmune specialises in developing treatments designed to help the immune system fight cancer and the purchase will give AstraZeneca access to a number of compounds currently in pre-clinical development.
Amplimmune's product line-up includes AMP-514, an anti-programmed cell death 1 (PD-1) medicine that is expected to ready for testing in patients later this year.
my thoughts....$500M for a PRECLIN PD-1 in AMP-514.....this should tell you what CDX-1127 is worth! Even more importantly what the space may be worth in BILLIONS in the future as Yervoy paves the way....the more BUYOUTS and MERGERS I see the le$$ I want to sell CLDX at any price!
."$500M for a PRECLIN PD-1 in AMP-514.....this should tell you what CDX-1127 is worth!"
Agreed. When one considers that it is $225 million now and the rest in possible milestone payments well down the road, it strongly suggests that some of the numbers thrown about on this board for the current value of 1127 are too high.