Thursday, June 29, 2017

Dendreon Acquired By Sanpower Group For $819.9M

Dendreon, the former Seattle company which had been developing treatments for metastatic prostate cancer, has been acquried by Chinese conglomerate Sanpower Group, in a deal worth $819.9M in cash. Dendreon has been based in Seal Beach, California, since it was acquired by Valeant Pharmceuticals out of bankruptcy in 2015. The company develops develops PROVENGE, a treatment for prostate cancer. Valeant acquired Dendreon out of Chapter 11 for $296M in cash, but laid off most of Dendreon's Seattle staff immediately after the acquisition.