Janssen Biotech acquires Maryland biotech company $1 billion

BeneVir Biopharm Inc., a biotech specializing in immunotherapy treatments for cancer, has reached a deal to sell to pharmaceutical giant 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 milestones, including…
Source: bizjournals.com Health Care News Headlines - Category: Health Management Authors: Source Type: news