Blacksmith Medicines Merges With Forge Therapeutics
Blacksmith Medicines merged with Forge Therapeutics in a combination of two San Diego-based biotechnology companies. The Blacksmith platform has been validated through multiple pharmaceutical partnerships, including deals with Roche, Eli Lilly and Company and Basilea Pharmaceutica, which have the potential to earn more than $800 million in milestone payments plus royalties. The company has earned non-dilutive federal awards of up to $25.3 million to fully fund its infectious disease programs to the end of Phase 1. Blacksmith investors include Evotec A.G., MagnaSci Ventures, MP Healthcare Partners, Alexandria Venture Investments and Eli Lilly. Blacksmith Medicines works to discover... Read More »
Kite Acquires Tmunity Therapeutics
Kite announced on December 20 its acquisition of Tmunity Therapeutics. Kite will acquire all outstanding shares of Tmunity other than those already owned by Kite. The transaction is expected to close in the first quarter of 2023. After closing, Tmunity’s employees will join Kite. The financial terms of the agreement were not disclosed. Tmunity is a private, clinical-stage biotechnology company focused on transforming the future of CAR-T therapies by developing the next generation of engineered T-cell therapies, innovative manufacturing processes and technologies. Kite, a clinical-stage biopharmaceutical company, is focused on developing engineered autologous T-cell therapy products. On a... Read More »
PE-Backed Veranex Acquires Fusion Biotec
Veranex, backed by Summit Partners, Accelmed and Laurexa Capital Partners, has acquired Orange, California-based Fusion Biotec. The combination of Veranex’s infrastructure and experience developing diagnostic services with Fusion’s concept-to-production model works to continue the focus of driving the development of diagnostic and medical technology services for regulatory and commercial use. Financial terms of the deal were not disclosed. Fusion Biotec is a contract engineering and manufacturing firm in southern California dedicated to the diagnostics and medical device industry. Fusion Biotec is ISO 13485 certified for development and manufacturing, FDA and FDB registered. Founded in... Read More »
Amgen Acquires Horizon Therapeutics in Largest Healthcare Deal of 2022
Amgen Inc. announced on December 12 an agreement to acquire Horizon Therapeutics plc in the largest healthcare transaction of the year. Amgen will pay $116.50 for each Horizon share, totaling approximately $27.8 billion. Horizon was advised by Morgan Stanley and JPMorgan Chase & Co. Its legal advisers are Cooley LLP and Matheson LLP. Amgen’s lead financial adviser is PJT Partners and its financial adviser is Citigroup Inc. Its legal advisers are Sullivan Cromwell LLP and William Fry LLP. Horizon Therapeutics is an Irish biopharmaceutical company focused on developing medicines to treat rare autoimmune and severe inflammatory diseases. The company’s products are sold mostly... Read More »