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 »
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 »Schedule a demo
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