Another Cancer Treatment Startup for Merck
Merck & Co., Inc. (NYSE: MRK) has been busy this year. After securing a licensing deal with Cocrystal (NASDAQ: COCP) for proprietary influenza A/B antiviral agents in January, the company found two biotechnology start-ups to bolster its cancer treatment portfolio. First, in February Merck bought Immune Design for $5.85 per share in cash, for an approximate value of $300 million (135.8x trailing 12-month revenue). The target company is a late-stage immunotherapy company employing in-vivo approaches to enable the body’s immune system to fight disease. Through this acquisition, Merck gained Immune Design’s proprietary technologies, GLAAS and ZVex, which are engineered to... Read More »
Biotechnology Dominated Q1:19 Health Care Spending
Spending in the first quarter roared to nearly $150 billion, up 240% compared with the fourth quarter ($43.9 billion) and up 32% compared with the first quarter in 2018 ($113.4 billion). This quarter’s total would be halved if it weren’t for a single deal with a $74 billion price tag, Bristol-Myers Squibb’s (NYSE: BMY) acquisition of Celgene Corporation (NASDAQ: CELG). Two other deals added to the outsized total, Danaher Corporation’s (NYSE: DHR) $21.4 billion acquisition of GE Healthcare’s (NYSE: GE) Biopharma business and Centene Corporation’s (NYSE: CNC) $17.4 billion buyout of smaller health insurance rival WellCare Health Plans (NYSE: WCG). Those three deals made up 76% of the... Read More »
Ocugen Acquires Histogenics Corporation
Ocugen, Inc., a privately held clinical-stage biopharmaceutical company, has acquired Histogenics Corporation (NASDAQ: HSGX). Although no financial terms were disclosed, the merged company will be publicly-traded, operating under the Ocugen name. Ocugen discovers, develops and commercializes a pipeline of innovative therapies that address rare and underserved eye diseases. Histogenics develops a restorative cell therapy technology platform. It has collaborated with Brigham and Women’s Hospital, Cornell University and other leading institutions to advance molecular biology and proprietary materials sciences. Perhaps a big factor driving Ocugen’s purchase is Histogenic’s pipeline... Read More »
Roche Acquires Spark Therapeutics, Inc. in Another Large Biotech Deal
It’s been a busy year for the biotechnology sector so far, and this week continued the trend. Roche (SIX: RO), the global pharmaceuticals and diagnostics company, acquired Spark Therapeutics, Inc. (NASDAQ: ONCE) for $4.3 billion. At $114.50 per share, the price represents a 122% premium to Spark’s closing price on February 22, 2019, and a 19% premium to Spark’s high share price on July 9, 2018. Founded in 2013, Spark Therapeutics develops gene therapies for genetic diseases, including blindness, hemophilia, lysosomal storage disorders, and neurodegenerative diseases. Spark will continue operations in Philadelphia as an independent company under Roche. The deal gives Roche key... Read More »
Merck Buys Immunotherapy Firm Immune Design
Merck & Co., Inc. (NYSE: MRK), the global healthcare and pharmaceutical company, has acquired Immune Design (NASDAQ: IMDZ) for $300 million. Merck will buy all outstanding shares of Immune Design at a value of $5.85 per share. With reported revenue of only $2 million, Immune Design’s price tag equals close to a 136x EBITDA multiple. Out of this deal, Merck will gain key intellectual properties from Immune Design: GLAAS and ZVex. These properties can potentially activate the immune system’s natural ability to generate and expand immune cells to fight cancer and other chronic diseases. The acquisition of Immune Design highlights the demand for immunotherapy platforms and... Read More »Schedule a demo
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