Celgene completes Anthrogenesis deal

New Jersey, USA-based Celgene has completed its acquisition ofprivately-held biotherapeutics firm Anthrogenesis in a stock-for-stock merger valued at an initial $45 million.

The acquisition, which was first announced during November last year (Marketletter November 25, 2002), gives Celgene access to Anthrogenesis' proprietary technologies for the recovery of large amounts of high-potential stem cells and other biomaterials taken from human placental tissue. Moreover, Celgene will be able to provide stem cell transplant units sourced by Anthrogenesis as a therapeutic option to oncologists treating hematological cancer.

Celgene's chief executive, John Jackson, said: "this strategic acquisition combines the proprietary technology of Anthrogenesis with our commercial and development expertise to realize the substantial therapeutic and commercial potential of placental stem cells."