Tech Company M&A Transactions
Adnexus Therapeutics Acquisition
Adnexus Therapeutics, based in Waltham, was acquired by Bristol-Meyers Squibb. Bristol-Meyers Squibb disclosed that the acquisition price was $490 million.
Transaction Overview
Company Name
Acquired By
Announced On
9/24/2007
Transaction Type
M&A
Amount
$490,000,000
M&A Terms
Under the terms of the agreement Bristol-Myers Squibb will acquire all of Adnexus' issued and outstanding shares of capital stock and stock equivalents in an all-cash transaction for a gross purchase price of $430 million, with the net purchase price being $415 million after deducting Adnexus' net cash balance at closing. In addition, there is an earn-out structure which could result in Bristol-Myers Squibb paying an additional amount of approximately $75 million, in three increments of approximately $25 million each, in the event certain development and regulatory milestones are achieved.
Company Information
Company Status
Acquired or Merged
Industry
Biopharmaceutical
Mailing Address
100 Beaver St.
Waltham, MA 02453
USA
Waltham, MA 02453
USA
Phone
Website
Email Address
Overview
Adnexus is a private biotechnology company developing a breakthrough class of protein therapeutics known as AdNectins.
Profile
Social Media
Company News
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Management Team
Title
Name
Email & Social
President
John Edwards
Vice President
Cliff Bechtold
Vice President
Ray Camphausen
Vice President
Sharon Cload
VP - Product Management
Kelledy Manson
VP - R & D
Eric Furfine
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