Celgene Completes Avila Acquisition

Celgene Corp. has completed its acquisition of Avila Therapeutics for $350 million in cash, with as much as $575 million more contingent upon AVL-292 milestones and candidates from Avila’s discovery program.
 
Celgene gains a highly-selective Bruton’s tyrosine kinase inhibitor currently in Phase I development, as well as the Avilomics discovery platform for developing targeted covalent drugs that treat diseases through protein silencing.
 
“The Avilomics research team brings to Celgene an exciting clinical candidate in AVL-292, along with a dynamic platform of protein silencing that has tremendous potential,” said Tom Daniel, M.D., EVP, president of Research and Early Development for Celgene. “We welcome our new colleagues and look forward to the impact that the combined organization will have on the lives of patients receiving our drugs.”