Deals
Going private could give Recordati strategic flexibility and a stable source of capital, according to CVC Capital Partners and Groupe Bruxelles Lambert, which are offering to take the Italian pharma private for a 13% premium.
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European pharma companies splashed billions of dollars into the U.S. biopharma sector in a matter of days, but there are differing views on whether the activity represents the rise of a new buyer class or a quirk of timing.
After years of suffering from a bear market and more than 14 months of geopolitical turmoil shaking the macroenvironment, biotech appears to be moving on.
With six acquisitions already this year, Eli Lilly’s business development shows no signs of stopping as executives make good on a promise to spend their GLP-1 gains.
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Brings total raised in the Series E round to $276 million
Spherix’s investment portfolio into emerging biotech stocks has resulted in substantial gains, turning a roughly $860,000 investment into a position worth more than $11 million at current share price levels, and marking a Price to Book ratio of less than 100%. The recently announced asset-purchase agreement of CBM BioPharma extends pipeline promise.
Zomedica Pharmaceuticals Corp. announced that it has completed its second tranche closing of Series 1 Preferred Shares with the issuance of 7 Series 1 Preferred Shares to an accredited investor under a private placement at a purchase price of $1,000,000 per Series 1 Preferred Share for a total purchase price of $7,000,000.
Under the terms of the deal, a Merck subsidiary is buying all outstanding shares of Tilos for a total of up to $773 million, including an upfront payment and various potential milestone payments.
Government agencies in the United States and U.K. are scrutinizing Roche’s planned acquisition of the gene therapy company.
The bankruptcy announcement comes weeks after Insys founder John Kapoor and four former executives were found guilty of orchestrating a kickback scheme to boost sales of its powerful opioid Subsys.
Global Blood Therapeutics, Inc. announced that on June 1, 2019, the compensation committee of GBT’s board of directors granted 19 new employees options to purchase an aggregate of 35,600 shares of the company’s common stock with a per share exercise price of $60.78 and restricted stock units for an aggregate of 96,700 shares of the company’s common stock.
In addition to the deals, Vertex announced a new genetic therapies research site in the Boston and a new head of genetic therapies.
Heidelberg Pharma AG announced that it has received a milestone payment of 250 TUSD from its cooperation partner Telix Pharmaceuticals Limited, Melbourne, Australia,.
Yukin Therapeutics, a French company specializing in the development of new molecules for cancer treatment, has completed a €3.3 million financing round for the development and optimization of its proprietary therapeutic molecules.