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Celgene buys $12.75mm of Agios' stock in post-IPO PIPE
22 Aug 2013
Executive Summary
Agios Pharmaceuticals Inc. (developing drugs for cancer and inborn errors of metabolism) grossed $12.75mm through the sale of 708k common shares at $18 each to affiliates of strategic partner Celgene Corp. The private placement was made in conjunction with Agios' $98.6mm initial public offering, in which the company sold 5.89mm share at $18. Celgene and Agios have been partners since 2010, when Celgene took an option to Agios' early-stage cancer metabolism programs. In addition to the private placement, Celgene had previously taken part in Agios' Series B round, which closed at the same time as the companies struck up their alliance.
Deal Industry
- Biotechnology
- Pharmaceuticals
Deal Status
- Final
Deal Type
-
Financing
- Private Investment in Public Equity
- Private Placement
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Celgene buys $12.75mm of Agios' stock in post-IPO PIPE
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