Company Analysis - Celldex & Avant
Advancing In Tandem
On 22nd October 2007, Celldex Therapeutics Inc. and Avant Immunotherapeutics
Inc. announced a definitive agreement to merge, to create
a NASDAQ-listed, fully-integrated biopharmaceutical company
combining the two under the name Avant. Celldex and Avant
shareholders will own 58% and 42% of the company, respectively. The
closing of the merger is expected to take place in the first quarter of
2008.
Massachusetts-based Avant
Immunotherapeutics was formed
in 1998 through the acquisition
by T-Cel l Sciences - a
biotechnology company based
around immunology - of Virus
Research Institute, which was
focused on vaccine discovery and
delivery. The resulting company
thus has a great pedigree in the
development of vaccines and
immunotherapeutics, including
oral vaccines for bacterial and
viral conditions, including
influenza, anthrax and rotavirus. Since its formation, Avant has developed a
diverse pipeline of products, with a business strategy of leveraging value through
research collaborations and partnerships.
Celldex Therapeutics is a biopharmaceutical company based in Phillipsburg, New Jersey. Originally spun-out from Medarex in 2004, Celldex develops targeted immunotherapeutic vaccines for the treatment of cancer, autoimmune and infectious diseases. Its proprietary antigen-presenting cell (APC) Targeting Technology platform utilizes fully-human monoclonal antibodies (MAbs) targeting and stimulating dendritic cells. Celldex' pipeline also includes several products in varying stages of development, for indications such as cancer, HIV and hepatitis- B virus.
