Amgen (NASDAQ: AMGN) and Five Prime Therapeutics (NASDAQ: FPRX), a clinical-stage biotechnology company focused on developing immuno-oncology and targeted cancer therapies, today announced an agreement under which Amgen will acquire Five Prime Therapeutics for $38.00 per share in cash, representing an equity value of approximately $1.9 billion. This acquisition adds Five Prime’s innovative pipeline to Amgen’s leading oncology portfolio.
Gilead Sciences, Inc. (Nasdaq: GILD) today announced the completion of the previously announced transaction to acquire MYR GmbH for up to approximately €1.45 billion in aggregate cash consideration. The acquisition provides Gilead with Hepcludex® (bulevirtide), which was conditionally approved by the European Medicines Agency for the treatment of chronic hepatitis delta virus (HDV) in adults with compensated liver disease in July 2020.
Nordic Bioscience A/S, a Danish company and world leader in biomarker development, announced today the signing of an investment from KKR, a leading global investment firm. KKR will acquire a minority equity stake in Nordic Bioscience from existing shareholders and will support the company in accelerating its global growth. Nordic Bioscience has world-leading knowledge and ownership of biomarkers, measurable indicators of biological change or response used for the development of diagnostic tools and identification of new drug candidates.
Special-purpose acquisition companies (SPACs), once considered the province of scam artists and shady dealers, are the latest trend to hit the public markets and the scientific world as companies seek to go public more quickly and avoid some of the disadvantages of a traditional initial public offering of stock. The trend has been pronounced in the life sciences genomic tools and diagnostics industries, where initial public offerings aren’t as plentiful as some other markets, like biopharma. The question now is whether this trend is likely to continue or if this is just a momentary fad.
Roivant Sciences today announced it has entered into a definitive agreement to acquire Silicon Therapeutics for $450 million in Roivant equity, with additional potential regulatory and commercial milestone payments. Silicon Therapeutics has built a proprietary industry-leading computational physics platform for the in silico design and optimization of small molecule drugs for challenging disease targets. The platform includes custom methods based on quantum mechanics, molecular dynamics and statistical thermodynamics to overcome critical bottlenecks in drug discovery projects, such as predicting binding energies and conformational behavior of molecules.
Merck (NYSE: MRK), known as MSD outside the United States and Canada, and Pandion Therapeutics, Inc. (Nasdaq: PAND) today announced that the companies have entered into a definitive agreement, under which Merck, through a subsidiary, will acquire Pandion, a clinical-stage biotechnology company developing novel therapeutics designed to address the unmet needs of patients living with autoimmune diseases, for $60 per share in cash. This represents an approximate total equity value of $1.85 billion.
Three years into its investment, MidOcean Partners is preparing for a sale of The Planet Group, a staffing agency for the life sciences industry and other highly-skilled markets, PE Hub has learned.
The start of the Spac boom was 2020’s story. This year is about the consummation of deals. But with more special-purpose acquisition companies floating every week, competition for the hands of well-bred private companies is only getting fiercer. 36 Spacs floated in 2020 with a disclosed interest in the healthcare sector, according to Spacinsider, a company that tracks these vehicles. Another 11 IPO’d in January this year alone, and the amounts being raised are also surging. For young drug developers considering financing options this is clearly great news, though for investors backing these so-called blank-cheque companies the jury is still out.
Quantum-Si Incorporated (“Quantum-Si”, “QSi” or the “Company”), a pioneer in next generation semiconductor chip-based proteomics, and HighCape Capital Acquisition Corp. (Nasdaq: CAPA) (“HighCape”), a special purpose acquisition company sponsored by HighCape Capital LP, announced today that they have entered into a definitive business combination agreement. Upon completion of the transaction, the combined company’s Class A common stock is expected to be traded on The Nasdaq Stock Market (“Nasdaq”) under the symbol “QSI”.
Alpha Healthcare Acquisition Corp. (Nasdaq: AHAC) (“AHAC”), a special purpose acquisition company led by Mr. Rajiv Shukla, today announced execution of definitive business combination agreement along with a fully committed PIPE financing agreement with Humacyte, Inc. (“Humacyte”), a clinical-stage biotechnology platform company developing universally implantable bioengineered human tissue at commercial scale. Upon closing of the transaction, AHAC will be renamed Humacyte, Inc. (the “Combined Company”) and will be led by Laura Niklason, M.D., Ph.D., Chief Executive Officer of Humacyte. The Combined Company’s common stock is expected to be listed on the Nasdaq Capital Market under the ticker symbol “HUMA.”
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