Eli Lilly Acquires POINT Biopharma Global For $1.4 Billion
Eli Lilly and Company announced on October 2 that it acquired POINT Biopharma Global, Inc. for approximately $1.4 billion. Lilly will commence a tender offer to acquire all outstanding shares of POINT for a purchase price of $12.50 per share in cash payable at closing. The price represents a premium of approximately 87% to POINT’s closing stock price on Oct. 2, 2023, the last trading day before the announcement of the transaction was made, and 68% to the 30-day volume-weighted average price. POINT Biopharma Global is a globally focused radiopharmaceutical company building a platform for the clinical development and commercialization of radioligands that fight... Read More »
SOHM Acquires ABBIE
On September 25, SOHM, Inc. announced that it acquired ABBIE from CGA 369 for $10 million. ABBIE is a gene-editing platform which can deliver genetic payloads using non-viral vectors. ABBIE uses targeted integration to insert larger DNA sequences, including full genes, into a desired loci of the target cell’s genome. ABBIE will be able to edit genes of a large number of cell types at different stages of their life cycles, overcoming the limitations of current cell editing and cell engineering technologies. SOHM, is a generic pharmaceutical manufacturing and marketing company with a vision of “Globalè Prospèro” that tries to build continuous growth. SOHM’s... Read More »
Berkeley Biologics Acquires Elutia’s Orthobiologics Business Unit
Elutia Inc. (previously known as Aziyo Biologics, Inc.) announced on September 18 that it divested its Orthobiologics business unit to Berkeley Biologics LLC. Mizuho Securities USA LLC acted as advisor to Elutia. According to data captured in the LevinPro HC database, this transaction marks the 110th Biotechnology transaction of the year. Elutia will receive cash proceeds of up to $35 million, comprising an upfront payment at closing of $15 million plus potential earnout payments of up to $20 million over a five-year period. The transaction is expected to close in the fourth quarter of 2023. Orthobiologics are therapies that can be used by orthopaedic... Read More »
Sagaliam Acquisition Corp. Acquires Biogenysis and Virogentics
Enzolytics, Inc. announced on September 18 that it sold two of its wholly owned subsidiaries, Biogenysis, Inc. and Virogentics, Inc., to Sagaliam Acquisition Corp. in a transaction valued at $450 million. Enzolytics is a Texas-based biotechnology company with both patented anti-HIV therapeutics and a proprietary methodology for producing fully human IgG1 monoclonal antibodies for treating infectious diseases with non-toxic passive immunotherapy. Biogenysis uses proprietary techniques to produce fully human monoclonal antibodies (mAbs) against infectious diseases. The technology is currently being employed to produce monoclonal antibody therapeutics for treating the CoronaVirus... Read More »
Agilent Technologies Divests Resolution Bioscience
Agilent Technologies, Inc. announced it is selling Resolution Bioscience Inc. to Exact Sciences Corp. Financial terms of the agreement were not disclosed and are not material to either party. According to data captured in the LevinPro HC database, this transaction represents the 108th Biotechnology acquisition of 2023. Resolution Bioscience is dedicated to developing a highly sensitive, non-invasive liquid biopsy platform that improves cancer diagnostics and monitoring for patients around the world. The company has developed and patented core technology for circulating cell-free DNA NGS analysis. Exact Sciences is a molecular diagnostics company which focuses on the early... Read More »Schedule a demo
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