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News Breaks
June 10, 2014
07:32 EDTCLSNCelsion to acquire EGEN for $14M
Celsion and EGEN announced the signing of a definitive asset purchase agreement in which Celsion will acquire substantially all of the assets of EGEN, including its Phase Ib DNA-based immunotherapy product candidate EGEN-001 and its therapeutic platform technologies, TheraPlas for delivery of DNA and mRNA, TheraSilence for delivery of RNA, and RAST for Cell Enabled Expression and Secretion of RNA. Under the terms of the agreement, a wholly-owned subsidiary of Celsion will acquire the assets of EGEN and assume certain liabilities in exchange for cash and shares of Celsion totaling $14M. The upfront payment consists of $10.6M in Celsion common stock representing approximately 16.4% of Celsion's outstanding shares, of which $2.1M in Celsion common stock is subject to a twenty-four month holdback by Celsion for expense adjustment and certain indemnification claims of Celsion, and $3.4M in cash. In addition to the upfront payment, a total of $30.4M in future milestone obligations are payable to EGEN based on the successful completion of certain clinical development and licensing milestones. The acquisition is expected to close in June, subject to customary closing conditions. The boards of directors of both Celsion and EGEN have unanimously approved the transaction. The transaction is not subject to Celsion shareholder approval.
News For CLSN From The Last 14 Days
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May 21, 2015
08:10 EDTCLSNCelsion's TheraSilence RNA program shows positive preclinical data
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May 15, 2015
08:03 EDTCLSNCelsion announces preclinical data confirming delivery of RNA to lung cells
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May 13, 2015
17:11 EDTCLSNCelsion announces ASCO 2015 GEN-1 Immunotherapy Phase 1b results
Celsion Corporation announced that results from its Phase Ib trial for GEN-1 in platinum-resistant ovarian cancer will be presented in poster session at the 2015 American Society of Clinical Oncology meeting in Chicago on Saturday, May 30th. GEN-1 is an IL-12 DNA plasmid vector encased in a nanoparticle delivery system, which enables cell transfection followed by persistent, local secretion of the IL-12 protein. Dr. Premal H. Thaker, M.D., associate professor at Washington University and Siteman Cancer Center in St. Louis and a principal investigator for the study, highlighted the results in an abstract titled, "A Phase I Study of Intraperitoneal EGEN-001 in Patients with Recurrent or Persistent Epithelial Ovarian, Fallopian Tube or Primary Peritoneal Cancer." The abstract is available on the ASCO website. The Phase 1b dose escalating study enrolled 16 patients with platinum-resistant ovarian cancer and evaluated the safety, tolerability and efficacy of GEN-1 in combination with pegylated doxorubicin as well as the effect of intraperitoneal injection of GEN-1 on IL-12 and tumor cytokine levels. Patients received pegylated liposomal doxorubicin on day 1 and GEN-1 on days 1, 8, 15 and 22. This treatment regimen was repeated every 28 days in the absence of disease progression or unacceptable toxicity. The findings demonstrated an overall clinical benefit of 57% for all treatment arms, with a partial response rate of 21% and a stable disease rate of 36%. The overall clinical benefit observed at the highest dose level was 86%. GEN-1 was well tolerated, with no dose limiting toxicities and no overlapping toxicities between GEN-1, its subsequent immune system activation and pegylated doxorubicin.

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