Cephalon Buys VC-backed Gemin X Pharma

Publicly traded biopharmaceutical company Cephalon Inc. will pay $225 million for Gemin X Pharmaceuticals. Gemin is backed by investors including Caxton Advantage Life Sciences Fund, GrowthWorks Canadian Fund and Sanderling Venture Partners. Under the terms of the deal, Gemin X shareholders could receive an additional $300 million after the company reaches regulatory and sales milestones. The deal is expected to close during the second quarter.

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