Sun Pharmaceutical Industries Acquires Concert Pharmaceuticals in $576 Million Deal
Sun Pharmaceutical Industries Limited has acquired Concert Pharmaceuticals, Inc. for $576 million. Sun Pharma will acquire all outstanding shares of Concert through a tender offer for an upfront payment of $8 per share of common stock in cash. Concert stockholders will also receive a non-tradeable contingent value right (CVR) entitling holders to receive up to an additional $3.50 per share of common stock in cash, payable upon Concert’s candidate deuruxolitinib achieving certain net sales milestones within specified periods, subject to the terms and conditions contained in a contingent value rights agreement detailing the terms of the CVRs. Concert is a late-stage clinical... Read More »
Agilent Technologies Acquires Avida Biomed
Agilent Technologies Inc. has acquired Avida Biomed. The acquisition augments Agilent’s strategy to expand into the high-growth clinical research and diagnostics markets. Terms of the deal were not disclosed. Agilent provides bio-analytical solutions and services to the life sciences, diagnostics and genomics, chemical analysis, communications and electronics industries worldwide. Its global headquarters is in Santa Clara, California. Agilent was established in 1999 as a spin-off from Hewlett-Packard. Fremont, California-based Avida Biomed is an early-stage life sciences company that develops target enrichment workflows with capabilities for clinical researchers utilizing next-generation... Read More »
Blacksmith Medicines Merges With Forge Therapeutics
Blacksmith Medicines merged with Forge Therapeutics in a combination of two San Diego-based biotechnology companies. The Blacksmith platform has been validated through multiple pharmaceutical partnerships, including deals with Roche, Eli Lilly and Company and Basilea Pharmaceutica, which have the potential to earn more than $800 million in milestone payments plus royalties. The company has earned non-dilutive federal awards of up to $25.3 million to fully fund its infectious disease programs to the end of Phase 1. Blacksmith investors include Evotec A.G., MagnaSci Ventures, MP Healthcare Partners, Alexandria Venture Investments and Eli Lilly. Blacksmith Medicines works to discover... Read More »
Kite Acquires Tmunity Therapeutics
Kite announced on December 20 its acquisition of Tmunity Therapeutics. Kite will acquire all outstanding shares of Tmunity other than those already owned by Kite. The transaction is expected to close in the first quarter of 2023. After closing, Tmunity’s employees will join Kite. The financial terms of the agreement were not disclosed. Tmunity is a private, clinical-stage biotechnology company focused on transforming the future of CAR-T therapies by developing the next generation of engineered T-cell therapies, innovative manufacturing processes and technologies. Kite, a clinical-stage biopharmaceutical company, is focused on developing engineered autologous T-cell therapy products. On a... Read More »