Mergers & acquisitions
Completes concurrent financing of ~$22 million led by Orbimed Advisors, LLC
The deal is expected to close in the second half of 2020. Once finalized, the combined company will run under the name Adicet Bio and is expected to trade on the Nasdaq Global Market under a new ticker symbol, which hasn’t been announced yet.
The delays, particularly in the regulatory review process, have caused the merger completion to be pushed back to the second half of this year.
T cell redirecting cancer company Immatics Biotechnologies entered into a merger agreement with Arya Sciences Acquisition Corp. that will give the Germany-based company a listing on the Nasdaq exchange under the ticker symbol IMTX.
The consent decree, including the proposed purchasers, remains subject to further review and approval by the Commissioners of the FTC.
AcelRx Pharmaceuticals, headquartered in Redwood City, California, is buying Watertown, Massachusetts-based TetraPhase Pharmaceuticals for $14.4 million.
The new company is focused on tapping into the powers of the immune system to address numerous diseases.
Mergers and acquisitions in the pharmaceutical industry are not only a positive for the company that has made a bid for another company, but it is also good for the industry as a whole because of increases in efficiency across the entire field.
On Tuesday, the European Commission gave the green light to the merger following the divestiture of an investigational autoimmune treatment.
Qiagen manufactures diagnostic tests for a variety of diseases including cancer and, currently, the coronavirus that causes COVID-19.
PRESS RELEASES