U.S. drugmaker Cephalon has announced that it will take a 20 percent stake in Australian biotechnology company Mesoblast as part of an alliance to develop and market stem cell treatments for degenerative conditions of the cardiovascular and central nervous systems.

The deal calls for Malvern, Pa.-based Cephalon to pay Mesoblast $130 million upfront and another $220 million for the 20 percent stake in the Melbourne-based company, Reuters reports. Depending on the performance of the stem cell treatments to be produced, the transaction could be worth up to $1.7 billion, according to The New York Times‘ DealBook.

This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.

To view this content, please continue to their sites.

Not a Lexis Subscriber?
Subscribe Now

Not a Bloomberg Law Subscriber?
Subscribe Now

Why am I seeing this?

LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.

For questions call 1-877-256-2472 or contact us at [email protected]