Eighteen years after its founding, Branford biosciences firm CuraGen Corp. is merging today with a Massachusetts biotech company following approval of shareholders from both companies.
Celldex Therapeutics Inc., of Needham, Mass., is issuing approximately 16.6 million shares of common stock in exchange for all outstanding shares of CuraGen common.
Based on Celldex’s mid-morning stock price of $5.44, the deal is valued at about $96 million.
The merger was initially announced in May.
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Both companies are involved in genetics research to develop drugs that treat cancer and other diseases.
