Avant, Celldex merge in $115M stock deal

Avant Immunotherapeutics is merging with Celldex Therapeutics in a stock deal valued at $115 million. Celldex shareholders will wind up with a majority of the shares in the merged company, which will have development programs in vaccines and brain cancer immunotherapeutics. The merged company will also have a product on the market--the oral vaccine Rotarix. Celldex is privately held and Avant's shares closed at 55 cents on Friday.

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