Vaccine

Cancer Drug Developer BioNTech to Buy Neon Therapeutics in $67M Deal

1 month ago   |   By Xconomy

Neon Therapeutics closed 2019 by curtailing its cancer vaccine programs and laying off 24 percent of its workforce, part of a corporate restructuring aimed at finding a new path for the company. That new path will now be as a division of cancer drug developer BioNTech. BioNTech announced Thursday that it has agreed to acquire Cambridge, MA-based Neon in a $67 million stock deal. According to the terms, the BioNTech shares that Neon shareholders will receive value the company at $2.18 per share-a 77.2 premium to Wednesday's closing stock price. When Neon went public less than two years...
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