May 2, 2018 / 11:11 AM / 7 months ago

BRIEF-HC2 Announces Pansend Life Sciences Portfolio Company Benevir Biopharm To Be Acquired By Janssen Biotech For Up To $1.04 Bln

May 2 (Reuters) - HC2 Holdings Inc:

* HC2 ANNOUNCES PANSEND LIFE SCIENCES PORTFOLIO COMPANY BENEVIR BIOPHARM TO BE ACQUIRED BY JANSSEN BIOTECH, INC. FOR UP TO $1.04 BILLION

* HC2 HOLDINGS INC - JANSSEN WILL MAKE AN UPFRONT CASH PAYMENT OF $140 MILLION AT CLOSING OF TRANSACTION

* HC2 HOLDINGS - JANSSEN TO ALSO MAKE ADDITIONAL CONTINGENT PAYMENTS OF UP TO $900 MILLION BASED ON ACHIEVEMENT OF CERTAIN PREDETERMINED MILESTONES

* HC2 HOLDINGS INC - TOTAL AMOUNT OF ALL PAYMENTS AS PART OF DEAL COULD EXCEED $1 BILLION IF ALL MILESTONES ARE MET Source text for Eikon: Further company coverage:

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