BioCentury
ARTICLE | Company News

Adnexus, Bristol-Myers deal

October 1, 2007 7:00 AM UTC

BMY will acquire Adnexus for $430 million in cash, plus up to $75 million in milestones. BMY said the acquisition will advance its biologics strategy across multiple therapeutic areas. Adnexus' lead compound is Angiocept ( CT-322), a VEGF receptor 2 ( KDR/Flk-1) antagonist in Phase I testing to treat cancer, with Phase II testing expected to start in 1Q08. Lehman Brothers Inc. advised Adnexus, and Morgan Stanley advised BMY. ...