“(Reuters) – Johnson & Johnson said on Monday that it would buy Aragon Pharmaceuticals, a private company that is running a mid-stage clinical trial for a prostate cancer drug, for $650 million in cash upfront and a possible second payment of $350 million if it meets certain milestones.
The deal does not include development of Aragon’s treatment for breast cancer, which will be spun off into a separate company called Seragon Pharmaceuticals ahead of the deal and will be run by Aragon’s chief executive officer.”
If you enjoy the content at iBankCoin, please follow us on Twitter
