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Celgene buys $12.75mm of Agios' stock in post-IPO PIPE

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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