BioVex, a cancer vaccines specialist spun out of University College London (UCL) is being acquired by US biotechnology giant Amgen in an all-cash deal worth up to $1 billion. Amgen is paying $425 million upfront, with a further $575 million to come on reaching some clinical and regulatory milestones.
The acquisition is a welcome return for the venture capital (VC) investors who have supported the company through six private rounds of investment, since it was formed in...
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