Gilead Sciences Inc. said late Thursday it will acquire privately held cellular therapy company Cell Design Labs Inc. for $567 million. The company said it will acquire the 12.2% of Cell Design shares held by recently acquired Kite Pharma Inc.. The deal includes an upfront payment of about $175 million and additional milestone payments of up to $322 million to be paid to Cell Design Labs shareholders other than Kite, Gilead said. Emeryville, Calif.-based Cell Design Labs develops biotech to re-engineer cells for use in cancer treatments. Shares of Gilead rose 0.3% to $72.92 after hours.
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