Gilead Sciences (GILD) has completed its previously announced acquisition of Germany-based Tubulis, a biotechnology company developing antibody-drug conjugates or ADCs, for $3.15 billion, Gilead said Thursday.
The transaction entitles Tubulis to up to $1.85 billion in contingent milestone payments, according to the statement.
Tubulis will remain based in Munich, Germany to establish its ADC innovation center, Gilead said.
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