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In: Press Releases

PDF: 5.29.2009 WBB Acts as Advisor for Celldex Therapeutics

WBB Acts as Financial Advisor for Celldex Therapeutics on $94.5MM Transaction

Celldex Therapeutics to Acquire CuraGen Corporation

For Immediate Release
May 29, 2009

SAN DIEGO, CAWBB Securities acted as a financial advisor to Celldex Therapeutics, Inc. in an agreement to acquire CuraGen Corporation. The acquisition will add a portfolio of oncology-focused, fully owned antibodies to Celldex’s Precision Targeted Immunotherapy Platform. Celldex will acquire CuraGen in a tax-free stock-for-stock transaction, which values CuraGen at approximately $94.5 million, subject to certain adjustments described within the definitive agreement. In addition to its pipeline, CuraGen is expected to have a cash balance of at least $54.5 million net of certain acquisition-related costs and CuraGen convertible debt at the transaction’s close, which is anticipated to occur in the third quarter of 2009. Concurrent with the closing of the transaction, Dr. Timothy Shannon, President and Chief Executive Officer of CuraGen, will join the Celldex Board of Directors.

Steve Brozak, WBB Securities President said, “WBB Securities is pleased to have acted as a financial advisor in this transaction. Both CuraGen and Celldex possess significant antibody technology, which holds tremendous therapeutic promise.”

About WBB Securities

WBB Securities is a leading investment management, investment banking, and equity research firm.  Established in 2001 and headquartered in San Diego, California, WBB Securities is a registered independent broker dealer and investment advisor with proprietary trading desks that have market-making capabilities.  WBB Securities has built a nationwide team of respected senior investment and research professionals with a network of branches throughout the US serving institutional and high net worth clients.  The firm also maintains an investment banking and equity research practice focused exclusively in the life sciences niche.  www.wbbsec.com

About Curagen Corporation

CuraGen Corporation is a biopharmaceutical company dedicated to improving the lives of patients by developing promising pharmaceutical products that address unmet medical needs. CuraGen’s therapeutics are based on research into novel drug targets and mechanisms that are believed to play a role in the underlying disease. CuraGen has translated this research and understanding into a pipeline of protein, antibody and antibody-drug conjugate drugs. For more information, please visit www.curagen.com