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Pfizer signs deal to buy Trillium Therapeutics for US$2.26 billion – Toronto Star

This Dec. 4, 2017, file photo shows the Pfizer company logo at the company's headquarters in New York.

By The Canadian Press

Mon., Aug. 23, 20211 min. read

TORONTO – Trillium Therapeutics Inc. has signed a deal to be bought by Pfizer Inc. in an agreement valued at US$2.26 billion.

Under the plan, Pfizer will pay US$18.50 per share in cash for the Mississauga, Ont.–based biotechnology company..

Trillium is developing treatments to enhance the ability of a patient’s immune system to detect and destroy cancer cells.

The acquisition follows Pfizer’s US$25 million investment in Trillium in September 2020.

The deal is subject to customary closing conditions, including approval by a two-thirds majority vote by Trillium shareholders.

Trillium shares were up US$11.48 at US$17.57 in trading on the Nasdaq market, while they were up C$14.60 at C$22.41 on the Toronto Stock Exchange.

This report by The Canadian Press was first published Aug. 23, 2021.

Companies in this story: (TSX:TRIL)