AbbVie acquired Stemcentrx, Inc. for $5.8 billion upfront (up to ~$9.8 billion with milestones), a transaction completed in June 2016, structured as cash and stock plus up to $4 billion contingent milestones.
Stemcentrx, Inc. operates in Oncology (solid tumors), is based in South San Francisco, California. Stemcentrx's lead compound was rovalpituzumab tesirine (Rova-T), a biomarker-specific antibody-drug conjugate then in late-stage development for small cell lung cancer. AbbVie paid about $5.8 billion upfront with up to $4 billion in additional contingent milestone payments.
Continued innovation in oncology is a critical component of AbbVie's long-term growth; Rova-T offered a unique platform in solid-tumor therapeutics complementing AbbVie's hematologic-oncology leadership.
AbbVie is committed to continued innovation in oncology, a critical component of our long-term growth and an area of significant need to millions of patients worldwide.Richard A. Gonzalez, Chairman and CEO, AbbVie
Advisory firms were not disclosed for this transaction.