Dendreon Acquired By Sanpower Group For $819.9M

Seal Beach, California-based Dendreon, a developer of treatments for metastatic prostate cancer, has been acquired by Chinese conglomerate Sanpower Group, in a deal worth $819.9M in cash, the company announced this morning. Dendreon--owned by an affiliate of Valeant Pharmaceuticals--develops PROVENGE, a treatment for prostate cancer, and was led by CEO James Caggiano. Valeant acquired Dendreon out of bankruptcy in 2015, for $296M.