CSL
(ASX:CSL) has snapped up a US biotech company, Calimmune for $91 million.
The company which it’s buying uses stem cell technology to fight incurable disease, including sickle disease, a blood disorder that affects oxygen being carried around the body.
As part of the acquisition, the global biopharmaceutical company purchased its stem cell gene therapy platform.
Under the terms, there is potential for $325 million in performance based payments. The transactions is expected to close in two weeks.
The company says the purchase will bolster its protein-based therapy expertise.
Shares in CSL
(ASX:CSL) are trading 0.31 per cent higher to $128.95.
