Cephalon, Salmedix deal

CEPH signed an agreement to acquire Salmedix for $160 million in cash plus $40 million in milestones. Salmedix is expected to have about $25 million in cash when the deal closes, which is expected this quarter. Salmedix will become a wholly owned subsidiary of CEPH. Deutsche Bank advised CEPH and SG Cowen advised Salmedix.

The acquisition adds Salmedix's Treanda bendamustine to CEPH's cancer pipeline. Treanda is in Phase II testing to treat indolent non-Hodgkin's lymphoma (NHL). A Phase III trial is planned for this year. Salmedix has North American rights to the compound from Fujisawa Deutschland (Munich, Germany), which markets the compound in Germany. ...