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NeoStem, Inc. To Buy Californian Peer For $124 Million+


4/15/2014 8:48:24 AM

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NeoStem (NBS) has agreed to acquire start-up California Stem Cell, which has developed Melapuldencel-T, an immune based-therapy designed to eliminate tumor cells that can cause disease recurrence. NeoStem will pay 5.33M shares - worth 34.1M based on the firm's closing price of $6.40 on Friday - as well as up to $90M in milestone and royalty payments in cash or shares. NeoStem is currently trading up 9.4% at $7 per share in premarket action.

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