Crown Laboratories Merges with Revance Therapeutics
Crown Laboratories, Inc., a portfolio company of New York City-based private equity firm Hildred Capital Partners LLC, announced that it entered into an agreement to acquire Revance Therapeutics, Inc. Crown will commence a tender offer to acquire all outstanding shares of Revance’s common stock for $6.66 per share in cash, representing a total enterprise value of $924 million. The purchase price represents a premium of 89% over Revance’s closing market price on August 9, 2024, and a 111% premium to Revance’s 60-day volume-weighted average price. Revance Therapeutics, Inc. is a biotechnology company based in Nashville, Tennessee. Revance’s... Read More »
Boehringer Ingelheim Acquires Nerio Therapeutics for $1.3 Billion
Boehringer Ingelheim announced on July 29 that it will buy Nerio Therapeutics for $1.3 billion. With the purchase of Nerio Therapeutics, Boehringer Ingelheim is also picking up a preclinical immune checkpoint inhibitor program that it hopes will become the “centerpiece” of its immune-oncology portfolio. Nerio Therapeutics is a biotechnology company focused on the life sciences sector. It was founded in 2019 and is based in La Jolla, California. Nerio has been working on small molecules that inhibit protein tyrosine phosphatases N1 and N2 (PTPN1 and PTPN2). PTPN1 and PTPN2 regulate cytokine signaling and T cell receptor signaling, with preclinical research suggesting inhibiting them can... Read More »
Lilly Acquires Morphic Holding, Inc. for $3.2 Billion
On July 8, Lilly (formally known as Eli Lilly and Company) announced that it acquired Morphic Holding, Inc. for an estimated $3.2 billion. Lilly plans to acquire all outstanding shares of Morphic for $57 per share in cash. The purchase price at closing is a premium of around 79% to the closing stock price on Friday. Morphic Holding is a Massachusetts-based biotechnology company that is leading the development of new oral integrin drugs for inflammatory bowel diseases. Its proprietary MInT drug discovery platform combines an expert understanding of integrin dynamics and analytical capabilities with foundational structural biology insights and ongoing input from the Massachusetts-based... Read More »
Pentixapharm Acquires Glycotope’s Target Discovery Unit
On July 3, Pentixapharm announced that it entered into an agreement to acquire certain discovery assets from Glycotope, a Berlin, Germany-based biotechnology company. The assets are aimed at various oncology targets and could be turned into radiopharmaceuticals. Pentixapharm is a radiopharmaceutical development company founded in 2019, with its headquarters in Würzburg, Germany. It develops PentixaFor and PentixaTher, two small peptide-based radiopharmaceuticals that specifically target the CXCR4-receptor expressed in hematological and solid cancers, as well as cardiovascular and endocrine diseases. This acquisition is aimed at doubling Pentixapharm’s pipeline of... Read More »
Johnson & Johnson Acquires Proteologix for $850 Million
On May 16 Johnson & Johnson (J&J) announced that it acquired Proteologix, Inc. for $850 million. Proteologix is privately held biotechnology company focused on bispecific antibodies for immune-mediated diseases. Proteologix’s portfolio includes PX128, a bispecific antibody targeting IL-13 plus TSLP, which is ready to enter phase 1 development for moderate to severe atopic dermatitis (AD) and moderate to severe asthma, and PX130, a bispecific antibody targeting IL-13 plus IL-22, which is in preclinical development for moderate to severe AD. J&J is one of the largest global healthcare and pharmaceutical companies with more than 130,000 employees worldwide. Its... Read More »Schedule a demo
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