Merck Boosts Oncology Portfolio

Merck Boosts Oncology Portfolio

by | Nov 9, 2020 4:19 pm | Biotechnology

The pharmaceutical giant Merck & Co., Inc. (NYSE: MRK) has announced a new acquisition, prepping up its oncology product portfolio. Merck purchased VelosBio, a privately held clinical-stage biopharmaceutical company committed to developing first-in-class cancer therapies, for $2.75 billion in cash. VelosBio’s lead investigational candidate, VLS-101, is currently being evaluated in a Phase 1 and a Phase 2 clinical trial for the treatment of patients with hematologic malignancies and solid tumors, respectively. The transaction is expected to close by the end of 2020. Merck has been building up its oncology portfolio in recent months, trying to remain competitive in the growing market,... Read More »
COVID-19 Vaccine Rush Pushes Biotech Deals

COVID-19 Vaccine Rush Pushes Biotech Deals

by | Jun 1, 2020 2:49 pm | Biotechnology, Pharmaceuticals

For the past few weeks, we’ve discussed the widening effects of the current pandemic on healthcare M&A, particularly on the services sectors, but until this week, dealmaking hasn’t been directly focused on COVID-19. As the biotechnology and pharmaceutical industries race to find a COVID-19 vaccine, companies are bolstering their efforts with new collaborations and acquisitions. They’re the first transactions of their kind, and we expect to see more in the coming months. This week, Novavax, Inc. (NASDAQ: NVAX), a clinical-stage company focused on developing recombinant protein nanoparticle vaccines, spent $167 million cash to acquire Praha Vaccines from Cyrus... Read More »
Merck Buys Immunotherapy Firm Immune Design

Merck Buys Immunotherapy Firm Immune Design

by | Feb 25, 2019 12:08 pm | Biotechnology, Pharmaceuticals

Merck & Co., Inc. (NYSE: MRK), the global healthcare and pharmaceutical company, has acquired Immune Design (NASDAQ: IMDZ) for $300 million. Merck will buy all outstanding shares of Immune Design at a value of $5.85 per share. With reported revenue of only $2 million, Immune Design’s price tag equals close to a 136x EBITDA multiple. Out of this deal, Merck will gain key intellectual properties from Immune Design: GLAAS and ZVex. These properties can potentially activate the immune system’s natural ability to generate and expand immune cells to fight cancer and other chronic diseases. The acquisition of Immune Design highlights the demand for immunotherapy platforms and... Read More »
Gilead Buys Kite Pharma to Diversify Portfolio

Gilead Buys Kite Pharma to Diversify Portfolio

by | Aug 29, 2017 3:20 pm | Biotechnology, Pharmaceuticals

Gilead Sciences, Inc. (NASDAQ: GILD) finally found a target worth pursuing. The pharmaceutical company, perhaps best known for its high-priced hepatitis-C drugs, Harvoni and Solvadi, placed its bets on Kite Pharma, Inc. (NASDAQ: KITE), hoping to cash in on the biotech’s promising technology for fighting cancer. Gilead announced the acquisition of Kite Pharma for $180.00 per share, valuing the company at approximately $11.9 billion. The price represents a 29% premium to Kite’s closing price on August 25, 2017. Kite Pharma is a clinical-stage biopharmaceutical company that develops and commercializes novel cancer immunotherapy products. It is developing a pipeline of engineered... Read More »