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 »
HGMT Merges With Henley Ion
HGMT and Henley Ion have entered into a merger agreement. The combination gives Henley Ion more than 30 issued and pending patents in its IP portfolio, benefiting the airway protection, air safety and transdermal and tissue drug delivery categories. Henley Ion is a New Orleans-based biotech company developing next-generation technology in respiratory protection and medical devices. HGMT is a Colorado-based biotech startup and a developer of transdermal solutions. Terms of the deal were not disclosed. According to the LevinPro HC database, this was the 125th biotechnology transaction of 2022. This compares with 103 biotechnology deals recorded between January 1, 2021, and November 11,... Read More »
Leica Biosystems Acquires Cell IDx
Leica Biosystems acquired San Diego-based Cell IDx, Inc. Terms of the deal were not disclosed. Founded in 2012, Cell IDx provides multiplex staining panels, tissue staining and imaging and analysis services. Buffalo Grove, Illinois-based Leica Biosystems is a cancer diagnostics company and a global leader in workflow solutions. In 2021, Leica Biosystems and Cell IDx announced a partnership to combine the benefits of UltraPlex and BOND RX. According to the LevinPro HC database, this was the 123rd Biotechnology transaction of 2022. This compares with 103 Biotechnology deals recorded between January 1, 2021, and November 10, 2021. Read More »
Avista Capital Partners Acquires Taconic Biosciences
Avista Capital Partners has acquired Taconic Biosciences from H.I.G. Capital. Transaction terms were not disclosed. Founded in 1952 and headquartered in Rensselaer, New York, Taconic Biosciences specializes in genetically engineered research models and services, specifically murine models for use in drug discovery research and non-clinical safety testing. Founded in 2005, Avista Capital is a New York-based private equity firm with more than $8 billion invested in more than 40 growth-oriented healthcare businesses globally. According to the LevinPro HC database, this was the 122nd Biotechnology transaction of 2022. This compares with 103 Biotechnology deals recorded between January 1, 2021,... Read More »Schedule a demo
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