NeoStem to buy California stem cell
This article was originally published in Clinica
New York-based NeoStem will issue 5.33 million shares of its stock to shareholders of California Stem Cell (CSC) to acquire the company and its cell-based cancer vaccine melapuldencel-T. NeoStem's stock closed up 6.1% at $6.79 per share on 14 April when the deal was announced, so the transaction terms value Irvine, California-based CSC at about $36.2m. The acquisition also entitles CSC shareholders to milestone fees and royalties totaling up to $90m.
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