Avenue Therapeutics Acquires Baergic Bio
Avenue Therapeutics, Inc. acquired Baergic Bio, Inc. in a deal involving two pharmaceutical companies. Terms of the transaction were not disclosed. Founded in December 2019, Baergic Bio is a clinical-stage company that focuses on the development of a pharmaceutical product for the treatment of neurological disorders. Avenue Therapeutics is a specialty pharmaceutical company focused on the development and commercialization of therapies for the treatment of central nervous system diseases. It is owned by Fortress Biotech, Inc. According to the LevinPro HC database, this was the 86th pharmaceutical deal of 2022. This compares with 42 pharmaceutical transactions that were reported between... Read More »
Fulgent Genetics Acquires Fulgent Pharma
Fulgent Genetics, Inc. (NASDAQ: FLGT) announced on November 7 that it acquired Fulgent Pharma Holdings, Inc. for approximately $100 million. Fulgent Genetics is a genetic testing company focused on transforming patient care in oncology, infectious and rare diseases and reproductive health. In 2021, the company reported revenue of $992.6 million for the entire year. Founded in 2011, Fulgent Pharma is an independent clinical-stage therapeutics development company focused on the development of cancer treatments. A special committee of Fulgent Genetics’ board of directors was advised by First Principles Advisory Group and Cooley LLP. Fulgent Genetics was represented in the... Read More »
Viatris Acquires Oyster Point Pharma and Famy Life Sciences
Viatris Inc. announced on November 7 that it acquired two pharmaceutical companies: Oyster Point Pharma and Famy Life Sciences. The two acquisitions have an aggregate purchase price of approximately $700 million to $750 million. Viatris Inc. is a global pharmaceutical and healthcare corporation headquartered in Canonsburg, Pennsylvania. In 2020, it reported $11.95 billion in revenue. Founded in 2015, Oyster Point Pharma is a commercial-stage biopharmaceutical company focused on the discovery, development and commercialization of first-in-class pharmaceutical therapies to treat ophthalmic diseases. In 2021, it reported $1.15 million in revenue. Famy Life Sciences is a drug development... Read More »
Sean “Diddy” Combs Acquires Medical Marijuana Assets from Cresco Labs and Columbia Care for $185 Million
Cresco Labs (CSE: CL) and Columbia Care (CSE: CCHW) announced on November 4 that they were divesting certain assets in New York, Massachusetts and Illinois. The undisclosed purchasing entity is owned by rapper Sean Combs and is acquiring the assets for a total of $185 million. This marks the 17th medical marijuana transaction of the year, according to the LevinPro HC database. Cresco Labs is one of the largest vertically integrated multi-state cannabis operators in the United States, with a mission to normalize and professionalize the cannabis industry. Columbia Care is one of the largest and most experienced cultivators, manufacturers and providers of cannabis products and... Read More »