Merck Acquires Prometheus Biosciences for $10.8 Billion
Merck & Co., Inc. announced on April 17 that it will acquire, through a subsidiary, Prometheus Biosciences for $200.00 per share for a total equity value of approximately $10.8 billion. The transaction is expected to close in the third quarter of 2023. Morgan Stanley & Co. LLC acted as financial advisor to Merck and Paul, Weiss, Rifkind, Wharton & Garrison LLP as its legal advisors. Centerview Partners LLC and Goldman Sachs acted as financial advisors to Prometheus and Latham & Watkins LLP as the company’s legal advisor. Prometheus Biosciences is a clinical-stage biotechnology company pioneering a precision medicine approach for the discovery, development and... Read More »
Miltenyi Biotec Acquires lino Biotech
Miltenyi Biotec, a Bergisch Gladbach, Germany-based company, announced on March 22 that it acquired lino Biotech. Miltenyi Biotec purchased 100% of the shares from investors such as Switzerland-based Roche Venture Fund and Germany-based Hightech-Grunderfonds. Brown Gibbons Lang & Company initiated the transaction and acted as the exclusive financial advisor to lino Biotech. lino Biotech is the world’s only company specialized in focal molography – a new method for measuring molecular interactions in living cells or crude biological samples. It is based in Zurich and was founded in 2020. Miltenyi Biotec has been a global provider of products and services for biomedical research... Read More »
Pfizer Acquires Seagen for $43 Billion
Pfizer Inc. has acquired Seagen Inc. for $43 billion, representing the largest purchase price for a biotechnology deal in 2023. The transaction is expected to be completed in late 2023 or early 2024. Pfizer will pay $229 in cash for each share of Seagen and pay primarily through $31 billion in new, long-term debt. Shares of Pfizer rose 2% to $40.26 after markets opened on March 13 while Seagen’s stock soared more than 15% to nearly $200. Seagen Inc. specializes in working with antibody-drug conjugate technology. Its key products use lab-made proteins called monoclonal antibodies that seek out cancer cells to help deliver a cancer-killing drug while sparing surrounding tissue. It also has a... Read More »
Sanofi Acquires Provention Bio for $2.9 Billion
Sanofi S.A. announced on March 13 that it acquired Lebanon, New Jersey-based Provention Bio. The purchase price was $25 per share in cash, representing an equity value of approximately $2.9 billion. The transaction adds a first-in-class therapy in type 1 diabetes to Sanofi’s core asset portfolio in general medicines and further drives its strategic shift toward products with a differentiated profile. Provention Bio is a biopharmaceutical company focused on advancing the development of investigational therapies that may intercept and prevent debilitating and life-threatening, immune-mediated diseases. Provention ended Q3:22 with $186.5 million in cash, cash equivalents and marketable... Read More »
Notable Labs Acquires VBL Therapeutics
Notable Labs, Inc. announced its acquisition of VBL Therapeutics on February 23. Notable’s stockholders will receive newly issued ordinary shares and investors have committed an additional $10.3 million in a private placement to Notable, led by Builders VC, B Capital Group, Y Combinator, First Round Capital & Founders Fund. Chardan Capital Markets LLC is serving as the exclusive financial advisor to VBL Therapeutics, and Goodwin Procter LLP and Horn & Co. are serving as legal counsel to VBL Therapeutics. JMP Securities LLC is serving as exclusive financial advisor for Notable and Wiggin and Dana LLP and Meitar are serving as legal counsel to Notable. The combined company is... Read More »Schedule a demo
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