UCF spin-off company CytoSen acquired in $70 million deal

UCF spin-off company CytoSen has been acquired by the Netherlands-based Kiadis Pharma in a stock transaction that could reach $70 million, marking one of the largest biotech purchases in Central Florida history.

The terms of the sale include an upfront consideration of 1.94 million shares of Kiadis stock, according to a news release. Once the company accomplishes six clinical development and regulatory milestones, CytoSen’s owners will receive another 5.82 million shares. Read more here.