News Headlines Article

In rare move, Genentech to buy breast cancer drug company for up to $1.7 billion
San Francisco Business Times

Genentech Inc. will buy startup Seragon Pharmaceuticals Inc. for $725 million upfront and as much as $1 billion in milestone payments — just the second acquisition by the biotech powerhouse in its 38-year history. Genentech, the South San Francisco-based North American beachhead of Swiss drug maker Roche, said late Tuesday that the acquisition of privately held Seragon of San Diego will boost its portfolio of breast cancer drugs. The deal is expected to close in the third quarter, Genentech officials said.