Celator Shines At ASCO, Highlights Upside For Jazz

With proof of concept for its CombiPlex platform in the form of Phase III results for Vyxeos in acute myeloid leukemia, the $1.5bn purchase price paid by Jazz bought more than a promising late-stage asset.

The presentation of stellar full results for its nano-engineered Vyxeos at the American Society of Clinical Oncology meeting has been the icing on the cake for Celator Pharmaceuticals Inc., which has had a rapid rise in the past few months, culminating in its acquisition by Jazz Pharmaceuticals PLC just ahead of the cancer conference.

Jazz swooped in on May 31 with a cash offer of $30.25 per share – a huge increase over where...