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Celgene to acquire Avila Therapeutics for $350m plus $575m in milestones

 
• By Sukaina Virji
  
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Celgene is to acquire Avila Therapeutics, a privately held biotechnology company developing targeted covalent drugs that treat diseases through protein silencing, for $350 million in cash, plus up to $195 million for milestones related to its lead product candidate, and a further $380 million in milestones related to the productivity of Avila's Avilomics platform.

Celgene is to acquire Avila Therapeutics, a privately held biotechnology company developing targeted covalent drugs that treat diseases through protein silencing, for $350 million in cash, plus up to $195 million for milestones related to its lead product candidate, and a further $380 million in milestones related to the productivity of Avila's Avilomics platform.

Avila's investors include Abingworth, Advent Venture Partners, Atlas Venture, Polaris Venture Partners and the Novartis Option Fund. The company has...

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