Boston Scientific Acquires Apollo Endosurgery
Boston Scientific Corp., a biomedical/biotechnology engineering firm and multinational manufacturer of medical devices, announced on November 29 it acquired Apollo Endosurgery in a $615 million deal. Under terms of the deal, Boston Scientific will pay $10 per share to acquire Apollo Endosurgery. Boston Scientific expects to complete the deal in the first half of 2023 and the company expects the acquisition to be accretive to its earnings per share after 2023. Apollo Endosurgery is known for manufacturing medical devices used during endoluminal surgery procedures to close gastrointestinal defects, manage gastrointestinal complications and aid in weight loss for patients suffering from... Read More »
AstraZeneca Acquires Neogene Therapeutics for up to $320 Million
AstraZeneca has acquired Neogene Therapeutics in a transaction valued at up to $320 million. Consideration will include an initial payment of $200 million upon closing, and a further amount of up to $120 million in contingent, milestones-based and non-contingent consideration. The transaction is expected to close in the first quarter of 2023. Upon completion of the transaction, Neogene Therapeutics will operate as a wholly owned subsidiary, with operations in Amsterdam, The Netherlands, and Santa Monica, California. Neogene Therapeutics is a clinical-stage biotechnology company focused on discovering, developing and manufacturing transformative TCR therapies targeting neoantigens in solid... Read More »
Graybug Vision, CalciMedica Announce Merger
Graybug Vision, Inc. and CalciMedica Inc. have announced a merger agreement. Following the merger, the combined company will be headquartered in La Jolla, California. Rachel Leheny, Ph.D., will serve as CEO of the combined company. Graybug equity holders are expected to collectively own approximately 29% of the combined company, and pre-merger CalciMedica equity holders are expected to collectively own approximately 71% of the combined company. With approximately $35 million in cash and cash equivalents anticipated from the combined company, including a private placement financing expected to occur immediately prior to the merger closing, the combined company is expected to have a... Read More »
Merck Acquires Imago BioSciences for $1.35 Billion
Merck & Co., Inc. has entered into a definitive agreement under which Merck, through a subsidiary, will acquire Imago BioSciences, Inc. for $36.00 per share in cash for an approximate total equity value of $1.35 billion. The transaction is expected to close in the first quarter of 2023. Morgan Stanley & Co. LLC is acting as financial advisor to Merck in this transaction and Gibson, Dunn & Crutcher LLP as its legal advisors. Centerview Partners is acting as financial advisor to Imago and Latham & Watkins LLP as its legal advisors. Imago BioSciences is a clinical stage biopharmaceutical company developing medicines for the treatment of myeloproliferative neoplasms and other... Read More »
Renibus Therapeutics Raises $33 Million to Advance Cardiorenal Portfolio
Renibus Therapeutics, Inc., a clinical-stage biotechnology company developing products for the treatment of cardiorenal diseases, obtained $33 million in bridge financing, including $23 million in a Simple Agreement for Future Equity offering, and $10 million pursuant to the first tranche of a $30 million term loan with Oxford Finance LLC. Under terms of the credit facility with Oxford, the funds are available in three tranches of $10 million for a total of up to $30 million, subject to certain conditions. The term loan matures in October 2027 and includes a 24-month, interest-only period, which can be extended to 36 months under certain conditions. The first tranche of $10 million closed... Read More »Schedule a demo
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