All it takes to become an acquisition target in biotech is some promising data. Take Ewing, NJ, and Vancouver-based Celator Pharmaceuticals, which Jazz Pharmaceuticals just agreed to buy this morning for $1.5 billion.

Celator (NASDAQ: CPXX) was formed in 1999 by a team led by Lawrence Mayer and Marcel Bally, both veterans of the British Columbia Cancer Agency. The company went public in 2013, and its shares subsequently hovered between $1 and $5 apiece for more than two years. Then in this March, Celator’s CPX-351—a reformulation of the chemotherapy combination of cytarabine and daunorubicin, which is often used to treat acute myeloid leukemia—helped extend patients’ lives in a Phase 3 trial. Shares zoomed from $1.53 apiece to $8.70 in a day, then a record high, and have kept climbing. Now Jazz will pay $30.25 a share in cash, or $1.5 billion, for Celator and its AML drug.

Celator was to file for approval of CPX-351, known as Vyxeos, in the U.S. and Europe later this year. But developing a drug is completely different from successfully launching and selling it, and the latter is often best suited for companies with those capabilities already in place. Enter Jazz (NASDAQ: JAZZ). The Dublin-based firm is best known for the narcolepsy drug sodium oxybate (Xyrem), but has a presence in cancer, with the leukemia drug asparaginase Erwinia chrysanthemi (Erwinase), and hematology, with defibrotide sodium (Defitelio). Jazz will use its existing sales force to help carry CPX-351 to the finish line.

“We believe that Jazz Pharmaceuticals’ clinical and commercial expertise in hematology/oncology and existing international infrastructure will help realize the value of [CPX-351] as a treatment to patients with AML,” said Celator CEO Scott Jackson, in a statement. “After thoroughly evaluating our strategic options, our board of directors has unanimously determined that this all-cash transaction is in the best interest of our stockholders.”