Quick Take
Pharmaceutical company Celgene (NASDAQ:CELG) has announced an agreement to acquire biotechnology company Delinia for up to $775 million in initial and contingent consideration.
The deal is a high price for such an early stage company and indicates CELG is making a big bet on its approach to fostering immune system homeostasis in patients with lupus and rheumatoid arthritis.
We won't know for at least three years the extent to which this big bet will begin to pay off, as Phase 1/2 trial results won't be announced for some time.
