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Valeant Pharmaceuticals International, Inc.

Drug Names(s): APC8024, lapuleucel-T, Neuvenge, DN24-01

Description: APC8024 is autologous dendritic cells loaded with the Her-2/neu antigen fused to GMCSF. Her-2 is over expressed in breast, ovarian, colon cancer and pancreatic cancer (about 25% of all cancers)As is the case with Provenge, APC8024 is derived by leukapheresis of patient blood, purification and processing of dendritic cells and the infusion of the antigen loaded and activated dendritic cells back into the patient by intravenous injection.

Deal Structure: Dendreon and Valeant
In January 2015, Valeant Pharmaceuticals announced that it has entered into a stalking horse asset purchase agreement to acquire certain assets of Dendreon for $296 million in cash. Pursuant to the terms of the agreement, Valeant will acquire the world-wide rights to Dendreon's PROVENGE (sipuleucel-T) product and certain other Dendreon assets. Dendreon has been a debtor pursuant to chapter 11 of the U.S. Bankruptcy Code since November of 2014. The asset purchase agreement constitutes a stalking horse bid in a sale process being conducted under Section 363 of the U.S. Bankruptcy Code. In addition, completion of the transaction remains subject to higher or better offers at such auction and customary closing conditions.

On February 23, 2015, Valeant acquired the worldwide rights to PROVENGE, as well as certain other assets, from Dendreon.

Partners: Johnson & Johnson

DN24-02 News

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