Bristol Myers Squibb Buys Karuna Therapeutics for $14 Billion
Bristol Myers Squibb (BMS) and Karuna Therapeutics announced on December 22 that they have entered into a definitive merger agreement under which BMS will acquire Karuna. Under the terms of the merger agreement, BMS will acquire all outstanding shares of Karuna common stock for $330 per share in cash representing an approximately 53.4% premium to Karuna Therapeutic’s closing stock price on December 21, 2023. This represents a total equity value of approximately $14 billion, or $12.7 billion net of estimated cash acquired. Karuna Therapeutics is a biopharmaceutical company focused on transformative medicines for people living with psychiatric and neurological conditions.... Read More »
AstraZeneca Picks up Vaccine Developer Icosavax for $800 Million
AstraZeneca announced on December 12 that it is acquiring Icosavax, which develops a shot for respiratory syncytial virus (RSV), for $800 million in upfront cash. The deal value equates to $15 per share. Icosavax’s shareholders will also be in line for another $5 in cash per share, if certain regulatory and sale milestones are hit. Icosavax is a clinical-stage biopharmaceutical company leveraging its virus-like particles (VLPs) platform technology to develop vaccines against infectious diseases, with an initial focus on life-threatening respiratory diseases and a vision for combination and pan-respiratory vaccines. The company’s pipeline includes a phase 3-ready protein VLP... Read More »
AbbVie Acquires Cerevel Therapeutics for $8.7 Billion
AbbVie Inc. continues its shopping spree with yet another Boston-based biotechnology acquisition. The company announced that it will be acquiring Cerevel Therapeutics for approximately $8.7 billion. This transaction follows AbbVie’s acquisition of ImmunoGen Inc. for a total equity value of approximately $10.1 billion, announced on November 30, 2023. Founded in 2018, Cerevel Therapeutics researches treatments and therapeutics to treat neuroscience diseases. Cerevel Therapeutics has a diversified pipeline comprising five clinical-stage investigational therapies and several preclinical compounds with the potential to treat a range of neuroscience diseases, including schizophrenia,... Read More »
Roche Acquires Carmot Therapeutics for $2.7 Billion
Carmot Therapeutics Inc. announced on December 4 that it entered into a definitive merger agreement to be acquired by Roche Holding AG at a purchase price of $2.7 billion upfront and the potential for $400 million in milestone payments. Carmot Therapeutics is a biotechnology firm with injectable dual GLP-1/GIP receptor agonists and an oral GLP-1 drug in clinical development. The biotechnology company filed to go public in November 2023. Roche Holding AG, commonly known as Roche, operates in the pharmaceuticals and diagnostics businesses worldwide. The company’s headquarters are located in Basel, Switzerland. According to its 2022 annual report, Roche’s net sales... Read More »
AbbVie Acquires ImmunoGen for $10.1 Billion, Expanding Solid Tumor Portfolio
AbbVie Inc. and ImmunoGen, Inc. announced on November 30 a definitive agreement under which AbbVie will acquire ImmunoGen, a publicly traded biotechnology company focused on the development of antibody-drug conjugate (ADC) technology to treat cancer. Under the terms of the transaction, AbbVie will acquire all outstanding shares of ImmunoGen for $31.26 per share in cash. The transaction values ImmunoGen at a total equity value of approximately $10.1 billion. ImmunoGen’s flagship cancer therapy ELAHERE® (mirvetuximab soravtansine-gynx) is approved for the treatment of platinum-resistant ovarian cancer. According to its 2022 financial report, ImmunoGen had total revenues of... Read More »Schedule a demo
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