Biotech Values

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Cephalon Plunks Down $225M Now, $300M Later for Gemin X

Gemin X Pharmaceuticals Inc., a firm that had been on the prowl for a partner after wowing Wall Street a couple of years ago with early stage data for small-cell lung cancer (SCLC) candidate obatoclax, was snatched up by Cephalon Inc. for $225 million up front.

The deal, disclosed after the close of market Monday, also calls for up to $300 million in regulatory and sales milestones.

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