New User:

-or-
Username:
Password:
Forgot your password?

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.
News For CLSN From The Last 14 Days
Sign up for a free trial to see the rest of the stories you've been missing.
October 30, 2014
10:02 EDTCLSNOn The Fly: Analyst Initiation Summary
Subscribe for More Information
06:57 EDTCLSNCelsion initiated with a Buy at Cantor
Subscribe for More Information
October 29, 2014
08:18 EDTCLSNCelsion presents positive data for its Therasilence platform
Celsion presented data related to TheraSilence, its lung-specific RNA delivery technology, at the miRNA World Conference Workshop on miRNA Delivery in Boston, MA. The data highlighted formulation characteristics of the TheraSilence delivery platform, preclinical proof-of concept data and data supportive of GEN-2, Celsion's RNA interference therapeutic for the treatment of lung cancer. Celsion acquired the TheraSilence platform and GEN-2 through its acquisition of EGEN, Inc. in June. Intravenous delivery of RNA inhibiting VEGFR-2, a tumor angiogenesis factor, with the TheraSilence delivery system resulted in significant knockdown of VEGFR-2 transcript in lungs, reduction in tumor blood vessel density and inhibition of tumor growth. Systemically administered RNA complexes using the TheraSilence delivery system demonstrated a good tolerability profile.

Sign up for a free trial to see the rest of the stories you've been missing.

I agree to the theflyonthewall.com disclaimer & terms of use