10x Genomics Expands Biotechnology Business
10x Genomics, a California-based genetics company that develops integrated systems and solutions for genome sequencing, purchased Swedish biotech company Spatial Transcriptomics for an undisclosed amount in December, its second deal of 2018. Spatial Transcriptomics, headquartered in Stockholm, is a major player in the field of spatial genomics and RNA sequencing. Its technology aims to understand how cells interact in relation to another, which aids the research for fields like oncology, neurology, and immunology. That deal comes after 10x Genomics’ purchase of Epinomics, an epigenomics company that operates software platforms that research and analyze DNA data sequences for the biotech... Read More »
Pacific Biosciences Gives Illumina a Long-Read View
Only one week into November and deal value stands at $2.5 billion. Not a bad start, given that October’s full deal value totals $9.4 billion. At least 60% of November’s spending comes from one deal, Illumina’s (NASDAQ: ILMN) acquisition of Pacific Biosciences (NASDAQ: PACB) for $1.2 billion. The all-cash price consists of $8.00 per share for Pacific Biosciences (13.4x revenue), which Illumina’s press release notes is a 71% premium to PACB’s 30 trading day volume weighted average share price as of the market close on October 31, 2018. PACB closed at $4.45 that day, but has soared to around $7.75 as of November 9. For Illumina, the acquisition complements its... Read More »
Novartis Bags Cancer Researcher Endocyte
With little fanfare, Swiss drug maker Novartis AG (NYSE: NVS) bagged Endocyte, Inc. (NASDAQ: ECYT) for $2.1 billion, or $24.00 per share. The price represents a 54% premium to Endocyte’s closing price on October 17, 2018, the day before this deal was announced. Endocyte, a biopharmaceutical company based in Indiana, develops targeted therapies for the treatment of cancer and inflammatory diseases. The company uses drug conjugation technology to develop targeted therapies with companion imaging agents, including one that is a potential first-in-class investigational radioligand therapy (RLT) for the treatment of metastatic castration-resistant prostate cancer. It’s currently in... Read More »
Amicus Therapeutics Buys Gene Therapy Company
Amicus Therapeutics (NASDAQ: FOLD) is focused on rare and orphan diseases. So it’s no head-scratcher that the Cranbury, New Jersey-based biotech agreed to shell out $100 million to acquire Celenex. a clinical-stage gene therapy company in Columbus, Ohio. Celenex’ lead programs in CLN6, CLN3 and CLN8 Batten disease are potential first-to-market curative therapies for these rare, devestating diseases. Batten disease, also known as Neuronal Ceroid Lipofuscinosis (NCL), is a family of rare disorders that can be life-threatening and debilitating, with high unmet need. With this acquisition, Amicus gains the worldwide development and commercial rights for 10 gene therapy programs... Read More »
Seeking Cash and More Cash
After finishing up its strategic alternatives review, OvaScience, which is focused on developing treatments for infertility, decided the best way to go for shareholders was to merge into Millendo Therapeutics, a clinical-stage biopharmaceutical company focused on developing novel treatments for orphan endocrine diseases. OvaScience’s market cap was just $26 million, and it really hadn’t had any revenues yet. What it did have was cash, a total of $53.6 million of it (combined with short-term investments) as of June 30, 2018. Management at OvaScience must have thought that Millendo would have better use of that cash than for its own research. In merging with OvaScience, not only does... Read More »Schedule a demo
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