Thursday, April 28, 2016

Stemcentrx Acquired By AbbVie For $5.8 Billion

San Francisco-based Stemcentrx, a biopharmaceuticals developer focused on cancer, has been acquired by AbbVie in a $5.8 billion deal, the two said this morning. AbbVie said it would pay $2.0 billion in cash, and the remainder in stock for Stemcentrx, and up to $4.0 billion in earn out based on milestones. Stemcentrx was venture backed by Peter Thiel, Founders Fund, Artis Ventures, Sequoia Capital, Fidelity, WTI, and others.