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Stock Market & Financial Investment News

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.
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July 24, 2014
08:18 EDTCLSNCelsion's Thermodox for breast cancer shows positive Phase 2 results
Celsion announced positive interim data from its ongoing open-label Phase 2 DIGNITY Trial of ThermoDox in Recurrent Chest Wall Breast Cancer. 60% of patients experienced a stabilization of their highly refractory disease with a local response rate of 50% observed in the 10 evaluable patients, notably 3 complete responses, 2 partial responses and 1 patient with stable disease. These data are consistent with the previously reported positive Phase 1 data in RCWBC.

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