Instant Analysis: Celgene Pays $600 Million for Swiss Biotech


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What happened?

Celgene(NASDAQ: CELG)is at it again. The acquisitive company agreed to pay $600 million for Switzerland-based EngMab.

Privately held EngMab is a biotech that concentrates its efforts on T-cell bispecific antibodies (TCBs). As EngMac explains, "TCB binds simultaneously to a target on a tumor cell and to the T-cell receptor complex, leading to killing of the malignant cell."

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