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UCB Acquires Candid Therapeutics 

UCB Acquires Candid Therapeutics 

UCB has announced that it entered into an agreement to acquire Candid Therapeutics. Under the terms of the agreement, UCB will pay $2 billion upfront payments and up to $200 million in potential future milestone payments.  In March, it was reported that Candid was to be acquired by Rallybio Corporation, a clinical-stage biotechnology company, but the deal was terminated.  Candid Therapeutics is a clinical-stage biotechnology company focused on transforming the treatment of autoimmune and inflammatory diseases through novel T-cell engager (TCE) platforms. Candid is advancing two lead B-cell depleting TCEs, with a goal to broadly... Read More »
UCB Acquires Candid Therapeutics 

ArchiMed Acquires Esperion Therapeutics 

ArchiMed announced that it will acquire Esperion Therapeutics for approximately $1.1 billion.  Esperion shareholders will receive $3.16 per share in cash at closing, plus the right to participate in contingent milestone payments of up to $100 million in the aggregate tied to future net sales performance. The upfront cash consideration represents a premium of 58% to Esperion’s closing share price on April 30, 2026.  Esperion Therapeutics is a biotechnology company that focuses on the discovery and development of therapies using high-density lipoprotein, or -good- cholesterol, for treating cardiovascular... Read More »
Lilly Acquires Kelonia Therapeutics for $3.25 Billion Upfront 

Lilly Acquires Kelonia Therapeutics for $3.25 Billion Upfront 

Lilly announced that it acquired Kelonia Therapeutics for an upfront price of $3.25 billion.   For Lilly, Kirkland & Ellis LLP is acting as legal counsel. For Kelonia, Jefferies LLC is acting as financial advisor, and Goodwin Procter LLP is acting as legal counsel.  Under the terms of the agreement, Kelonia shareholders will receive up to $7 billion in cash, inclusive of an upfront payment of $3.25 billion, and subsequent payments upon achievement of certain clinical, regulatory and commercial milestones.  Kelonia Therapeutics is a clinical-stage... Read More »
Neurocrine Acquires Soleno Therapeutics for $2.9 Billion 

Neurocrine Acquires Soleno Therapeutics for $2.9 Billion 

On April 6, Neurocrine Biosciences, Inc. reported that it was expanding its endocrinology and rare disease portfolio with the purchase of Soleno Therapeutics, Inc. Neurocrine Biosciences will acquire Soleno Therapeutics for $53.00 per share in cash, representing a total transaction equity value of $2.9 billion.  Soleno Therapeutics is focused on the development and commercialization of novel therapeutics for the treatment of rare diseases. The company’s first commercial product, VYKAT XR (diazoxide choline) extended-release tablets, formerly known as DCCR, is a once-daily oral treatment for hyperphagia in adults and... Read More »
Eli Lilly to Acquire Centessa Pharmaceuticals for $6.3 Billion

Eli Lilly to Acquire Centessa Pharmaceuticals for $6.3 Billion

Eli Lilly and Company announced on March 31 that it will be acquiring Boston- and London-based Centessa Pharmaceuticals. Centessa Pharmaceuticals is a clinical-stage pharmaceutical company developing a new class of drugs for the treatment of excessive daytime sleepiness and other neurological conditions. Centessa’s lead program is cleminorexton, formerly known as ORX750, which is undergoing a phase 2 study for two types of narcolepsy as well as idiopathic hypersomnia. Eli Lilly is an American pharmaceutical company headquartered in Indianapolis, Indiana, with offices in 18 countries. Eli Lilly discovers, develops, manufactures and sells pharmaceutical products worldwide. Its products... Read More »

Merck to Buy Terns Pharmaceuticals for $6.7 Billion

Merck & Co., Inc., known as MSD outside the United States and Canada, will acquire Terns Pharmaceuticals Inc. for $53.00 per share in cash for an approximate equity value of $6.7 billion. Terns Pharmaceuticals Inc. is a clinical-stage oncology company based in San Mateo, California. Terns’ lead program, TERN-701, is a highly selective, oral, allosteric BCR:ABL1 inhibitor with a potentially best-in-disease profile that could meaningfully improve upon the efficacy, safety and convenience of existing treatments for chronic myeloid leukemia. Merck is an American multinational pharmaceutical company headquartered in Rahway, New Jersey. Merck is focused on the discovery, development,... Read More »