Mergers & acquisitions
The U.S. Federal Trade Commission gave the green light to the $63 billion merger of AbbVie and Allergan. That leaves one last hurdle for the two companies, approval from the Irish High Court.
Alexion said the acquisition of Portola will bolster its commercial portfolio and create long-term value for its shareholders.
Shares of New York-based Stemline Therapeutics skyrocketed more than 153% in premarket trading after Italy’s Menarini Group announced a $667 million acquisition of the oncology-focused company.
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.
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