Menarini Group, a privately held Italian pharmaceutical and diagnostics company, announced that is has successfully completed the acquisition of Stemline Therapeutics Inc., a commercial-stage biopharmaceutical company focused on the development and commercialization of novel oncology therapeutics, for an aggregate cash consideration up to $677 million on a fully diluted basis.
The company said that the acquisition will strengthen Menarini’s oncology portfolio with the addition of both commercial and clinical-stage assets.
Speaking on the acquisition, Elcin Barker Ergun, CEO of Menarini Group, said, “We are very excited to complete the acquisition of Stemline and to welcome their accomplished team to Menarini. The addition of ELZONRIS, which has potential to treat many other malignancies, as well as the other attractive pipeline assets augments our research and development capabilities and will accelerate our efforts to deliver novel oncology therapeutics to patients in need.”
Stemline is a New York-based commercial-stage biopharmaceutical company committed to applying its scientific leadership and commercial expertise to transform the lives of patients with cancer.
The Menarini Group is an international pharmaceutical company with a presence in over 100 countries, including a direct presence in over 70 countries. Its global platform extends throughout Europe, Central America, Africa, the Middle East and Asia and generates over $4.2 billion in annual sales.
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