SEATTLE Emergent BioSolutions will acquire Trubion Pharmaceuticals for $96.8 million upfront, under a deal the two companies announced.
Trubion, based in Seattle, develops biotech drugs for treating cancer and autoimmune diseases. Emergent said it would maintain Trubion’s research center in Seattle and use it to develop products for the company.
“The acquisition of Trubion by Emergent will accelerate the continued development of our leading products and technologies,” Trubion acting president and executive board chairman Steven Gillis said. “We believe the combination of Emergent’s strong financial position and expertise in development of biologics with Trubion’s innovative SMIP and SCORPION protein therapeutic product candidates and technologies will provide an efficient and effective development path for these promising products and technologies.”