Deciphera Pharmaceuticals announced on April 29 that it has entered into a definitive merger agreement with Ono Pharmaceutical Co., Ltd. Ono will acquire all outstanding shares of Deciphera common stock for $25.60 per share in cash through a tender offer followed by a merger of Deciphera with a wholly-owned subsidiary of Ono, for a total equity value of $2.4 billion.
Deciphera Pharmaceuticals is a biopharmaceutical company focused on discovering, developing and commercializing important new medicines to improve the lives of people with cancer. In addition to advancing multiple product candidates from our platform in clinical studies, QINLOCK® is Deciphera’s switch-control inhibitor for the treatment of fourth-line gastrointestinal stromal tumors. According to its most recent annual report, Deciphera’s total revenue for the year ended December 31, 2023 was $163.4 million, and an EBITDA loss of $208.9 million.
Ono Pharmaceutical is a pharmaceutical company focused on the discovery and development of drugs for unmet medical needs. The company was founded in 1717 and is headquartered in Osaka, Japan.
Upon completion of the acquisition, Deciphera will operate as a standalone business of Ono, from its headquarters in Waltham, Massachusetts. The acquisition is expected to enable Ono to build a robust presence in oncology, one of its key priority areas, and also support Ono’s efforts to become a global specialty pharma company. The boards of directors of both companies have unanimously approved the transaction.
J.P. Morgan Securities LLC is serving as exclusive financial advisor to Deciphera and Goodwin Procter LLP is serving as legal counsel. BofA Securities is serving as financial advisor to Ono and Greenberg Traurig is serving as legal counsel.
According to data captured in the LevinPro HC database, this acquisition represents the 62nd Biotechnology transaction of 2024. There were 161 Biotechnology deals announced during 2023, and 144 announced during 2022.
