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Novo Nordisk Inks $1 Billion Buyout of Cardior Pharmaceuticals
Novo Nordisk announced that it has agreed to acquire Cardior Pharmaceuticals for up to €1.025 billion (approximately $1.1 billion USD), including an upfront payment and additional payments if certain development and commercial milestones are achieved. The acquisition is an important step forward in Novo Nordisk’s strategy to establish a presence in the cardiovascular disease treatment space. Cardior Pharmaceuticals is a clinical-stage biopharmaceutical company focused on the discovery and development of RNA-based therapeutics designed to prevent, repair and reverse cardiovascular diseases. Cardior’s therapeutic approach uses distinctive non-coding RNAs as a platform for addressing... Read More »AbbVie Acquires Landos Biopharma for $137.5 Million
On March 25, Chicago-based AbbVie Inc. announced that it entered into an agreement to acquire Landos Biopharma for $137.5 million. AbbVie will acquire Landos at a price of $20.42 per share in cash upon closing, plus one non-tradable contingent value right per share with a value of up to $11.14 per share, or approximately an additional $75 million in the aggregate, subject to the achievement of a clinical development milestone. Landos Biopharma is a clinical stage biopharmaceutical company focused on the development of first-in-class oral therapeutics for patients with autoimmune diseases. Landos’ lead investigational asset is NX-13, a first-in-class oral NLRX1... Read More »![AstraZeneca Acquires Fusion Pharmaceuticals for $2 Billion](https://healthcare.levinassociates.com/wp-content/uploads/sites/9/2024/01/biotechnology-pic-1.jpeg)
AstraZeneca Acquires Fusion Pharmaceuticals for $2 Billion
AstraZeneca announced on March 19 that it entered into a definitive agreement to acquire Fusion Pharmaceuticals Inc., based in Hamilton, Canada. Fusion will become a wholly owned subsidiary of AstraZeneca, with operations continuing in Canada and the United States. The upfront cash portion of the consideration represents a transaction value of approximately $2 billion. Combined, the upfront and maximum potential contingent value payments represent, if achieved, a transaction value of approximately $2.4 billion. Fusion Pharmaceuticals is a clinical-stage biopharmaceutical company developing next-generation radioconjugates (RC). Fusion’s clinical-stage development portfolio includes its lead... Read More »![Novo Nordisk Inks $1 Billion Buyout of Cardior Pharmaceuticals](https://healthcare.levinassociates.com/wp-content/uploads/sites/9/2022/05/biotechnology-pic-1080x675.jpeg)
AstraZeneca Acquires Amolyt Pharma From Sofinnova Partners
Sofinnova Partners announced on March 14 that its portfolio company, Amolyt Pharma, has entered into a definitive agreement with AstraZeneca for its acquisition. The transaction includes $800 million upfront at deal closing, plus the right for Amolyt Pharma’s shareholders to receive an additional contingent payment of $250 million payable upon achievement of a specified regulatory milestone. Amolyt Pharma is a global, clinical-stage biopharmaceutical company specializing in the development of therapeutic peptides for rare endocrine and related diseases. Its portfolio includes eneboparatide (AZP-3601), a long-acting PTH1 receptor agonist as a potential treatment for hypoparathyroidism, and... Read More »![Ginkgo Bioworks Makes 3 Acquisitions](https://healthcare.levinassociates.com/wp-content/uploads/sites/9/2023/03/labs-laboratories-laboratory-services-pic-1080x675.jpeg)