Md. biotech to be acquired by New Jersey pharmaceutical goliath

Rockville-based BeneVir Biopharm Inc., a biotech specializing in immunotherapy treatments for cancer, has reached a deal to sell to pharmaceutical goliath Janssen Biotech Inc., a Johnson& Johnson company, in a deal worth up to $1.04 billion. Janssen, based in Titusville, New Jersey, will pay BeneVir $140 million in cash upon closing of the transaction, expected in the second quarter of this year, according to a company announcement. Additional contingent payments based on the achievement of certain…
Source: bizjournals.com Health Care:Pharmaceuticals headlines - Category: Pharmaceuticals Authors: Source Type: news