Bristol Myers Squibb Acquires RayzeBio for $4.1 Billion

Bristol Myers Squibb Acquires RayzeBio for $4.1 Billion

On December 26, Bristol Myers Squibb (BMS) announced that it was entering a merger agreement to acquire RayzeBio, Inc. BMS will commence a tender offer to acquire all of the outstanding shares of RayzeBio common stock at a price of $62.50 per share in an all-cash transaction for a total equity value of approximately $4.1 billion, or $3.6 billion net of estimated cash acquired. RayzeBio is a clinical-stage radiopharmaceutical therapeutics (RPT) company with an innovation-leading position in actinium-based RPTs and a pipeline of potentially first-in-class and best-in-class drug development programs. Current pipeline programs are targeting the treatment of solid tumors, including... Read More »
PE-Backed Laboratoire X.O Acquires nimodipine 

PE-Backed Laboratoire X.O Acquires nimodipine 

Laboratoire X.O, backed by European mid-market private equity firm Stanley Capital Partners, announced on November 6 that it purchased nimodipine from Bayer AG, a German biopharmaceutical company.  nimodipine is a second-generation calcium channel blocker designed to prevent and treat cerebral vasospasm following an aneurysmal subarachnoid hemorrhage. nimodipine is sold and marketed under the brand name Nimotop.  Laboratoire X.O is a pharmaceutical company that specializes in mature market authorizations to sell and market drugs across various therapeutic areas such as pain, central nervous system, cardiology, oral care and women’s health. It is based in Paris, France.   The... Read More »
TenX Keane Acquires Citius Pharmaceuticals 

TenX Keane Acquires Citius Pharmaceuticals 

On October 24, TenX Keane Acquisition, a special purpose acquisition company (SPAC), announced that it entered into an agreement with Citius Pharmaceuticals, Inc. to acquire Citius’ oncology subsidiary. The transaction is valued at $675 million.   Citius Pharmaceuticals is a late-stage biopharmaceutical company focused on the development and commercialization of first-in-class critical care products. The company has a pipeline of anti-infectives in adjunct cancer care, stem cell therapy and unique prescription products. According to Citius’ financial reports, it did not generate any revenues for both years ended September 30, 2022 and September 30,2021.  TenX is led by... Read More »
Roche Acquires Telavant for $7.1 Billion

Roche Acquires Telavant for $7.1 Billion

Roche Holding AG announced on October 23 that it will acquire Telavant Holdings from its majority owner, Roivant Sciences. Under the terms of the agreement, Roche will pay a purchase price of $7.1 billion upfront and a near-term milestone payment of $150 million.  Telavant is a biotechnology company that produces drugs to treat inflammatory and fibrotic diseases. It is in the process of developing a new therapy for patients with Crohn’s disease. Telavant was jointly formed by Roivant and Pfizer, Inc. in 2022 to develop and commercialize RVT-3101, a monthly subcutaneously administered anti-TL1A antibody, in the United States and Japan. Roivant currently owns 75% of the issued and... Read More »
Novo Nordisk Acquires ocedurenone 

Novo Nordisk Acquires ocedurenone 

On October 16, Novo Nordisk A/S announced it acquired ocedurenone from KBP Biosciences PTE., Ltd., a biotechnology company. According to Novo’s press release, the acquisition was valued at $1.3 billion.   ocedurenone is an orally administered, small molecule, non-steroidal mineralocorticoid receptor antagonist that is currently being examined in the phase 3 trial, CLARION-CKD, in patients with uncontrolled hypertension and advanced chronic kidney disease. ocedurenone has been investigated in nine clinical trials including the BLOCK-CKD Phase 2b trial.  Novo Nordisk is a leading global healthcare company founded in 1923 and headquartered in Denmark. Novo Nordisk employs more than... Read More »
Eton Pharmaceuticals Acquires New Drug Application 

Eton Pharmaceuticals Acquires New Drug Application 

On October 4, Eton Pharmaceuticals, Inc. announced it entered into an agreement to acquire an abbreviated new drug application for Nitisinone Capsules from Oakrum Pharma, LLC. This transaction is part of Oakrum Pharma’s Chapter 11 bankruptcy proceedings.  Nitisinone Capsules were approved by the FDA in May 2023 for the treatment of hereditary tyrosinemia type 1 (HT-1) in combination with dietary restriction of tyrosine and phenylalanine. Oakrum Pharma is a biopharmaceutical company focusing on development and commercialization of affordable drug therapies Eton Pharmaceuticals is an innovative pharmaceutical company focused on developing, acquiring and commercializing products to address... Read More »