Biopharmaceutical company Brooklyn ImmunoTherapeutics has completed its acquisition of engineered cellular medicine company Novellus Therapeutics Limited.

This acquisition advances Brooklyn’s evolution into a platform company with a pipeline of next-generation engineered cellular, gene editing and cytokine programs.

Brooklyn ImmunoTherapeutics acquired Novellus for $125m which consisted of $23 million in cash and 7,022,230 shares of Brooklyn common stock, which were valued at a total of $102 million based on a price of approximately $14.53 per share.

Philip Lee M&A, led by Andy McConnell, was delighted to advise Novellus on this transaction.

Further information available here.