Thursday, August 12, 2010

Trubion Pharmaceuticals In Acquisition Deal

Seattle-based Trubion Pharmaceuticals said Thursday afternoon that it is in a definitive merger agreement with Emergent BioSolutions. According to the firm, the deal is worth approximately $96.8M up front, consisting of a $1.365 per share cash plus 0.1641 shares of Emergent BioSolutions stock, and also includes approximately $38.7M in contingent payments which are tied to specific development milestones. The total potential value of the deal is worth up to $135.5M. Trubion said that Emergent will continue to maintain research facilities in Seattle, with the location becoming a therapeutics-focused product development site for the combined company.