Kolltan, Celldex deal
Celldex will acquire cancer company Kolltan for 19.2 million Celldex shares valued at $60.5 million based on the company's close of $3.15 on Oct. 31, the day before the deal was announced. Kolltan shareholders are also eligible for up to $172.5 million in milestones payable in cash, stock or both. The companies expect the deal to close by year end.
Kolltan's KTN0158 is in Phase I testing to treat refractory gastrointestinal stromal tumors (GIST). The product is a humanized IgG1 mAb targeting stem cell factor (SCF) receptor tyrosine kinase (c-Kit; KIT; CD117). KTN3379 is in Phase Ib testing to treat squamous cell carcinoma of the head and neck (SCCHN) and BRAF-mutant non-small cell lung cancer (NSCLC). The product is a human mAb against erb-b2 receptor tyrosine kinase 3 (ERBB3; HER3; EGFR3)...