Sorrento Acquires ACEA, a San Diego-China Drug Developer, in $488 Million Deal

Sorrento Therapeutics will acquire ACEA Therapeutics in a deal worth up to $488 million. Both companies develop novel cancer drugs, both are headquartered in San Diego and both have operations in China . Sorrento will pay $38 million upfront in stock and make up to an additional $450 million in milestones payments. The acquisition will include three ACEA candidates, one in Phase III, another in early clinical stage and a third in preclinical studies, along with ACEA’s library of over one million small molecules. ACEA has a manufacturing facility in China . More details.... Stock Symbol: (NSDQ: SRNE) Share this with colleagues: // //