Celldex acquiring Kolltan

Celldex Therapeutics Inc. (NASDAQ:CLDX) will acquire cancer company Kolltan Pharmaceuticals Inc. (New Haven, Conn.) in a stock deal, including shares valued at $62.5 million up front. Kolltan shareholders are also eligible for $172.5 million in milestones payable in cash and/or stock.

Koltan has two Phase I mAb programs targeting receptor tyrosine kinases. KTN0158 is in a dose escalation study in refractory gastrointestinal stromal tumors (GIST). KTN3379 has been in a Phase Ib trial in squamous cell carcinoma of the head and neck (SCCHN) and in BRAF-mutant non-small cell lung cancer (NSCLC) ...