Mergers & acquisitions
The medical device maker has been dropping money like rain this spring, spending close to $19 billion in acquisitions over the past four months.
Tidal Therapeutics, which does not even have a website, came out of LabCentral in Cambridge. It focuses on developing nanoparticles able to deliver messenger RNA (mRNA) that can reprogram immune cells.
Eloxx Pharma has experienced a string of changes over the past year, coming to a head with today’s announcement that the company will be acquiring early-stage biotech Zikani Therapeutics in an all-stock deal.
Under the terms of the deal, Amgen is buying all outstanding shares of Rodeo with a $55 million upfront payment. In addition, there are potential milestone payments that could hit $666 million in cash.
Illumina plans to continue to pursue its acquisition of Grail Inc. despite the objection of the U.S. Federal Trade Commission.
On March 4, 2021, Amgen announced that they had acquired Five Prime Therapeutics for $38 per share in cash, which is an equity value of about $1.9 billion.
The goal is to “identify concrete and actionable steps to review and update the analysis of pharmaceutical mergers.”
Shares of GenMark Diagnostics are soaring in premarket trading after Roche announced it was acquiring the California-based company in a $1.8 billion deal to bolster its own diagnostics pipeline.
The pair’s lead candidate, TAK-186 (formerly MVC-101), a first-in-class conditionally active T-cell engager, has recently entered the clinic in a Phase I/II study for the treatment of EGFR-expressing solid tumors such as those found in head and neck cancers.
Boston-based ABclonal Biotechnology acquired contract research organization (CRO) Yurogen Biosystems.
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