The Italian pharmaceutical company Angelini Pharma announced on January 4, 2021, that it will acquire emerging Swiss biotech company Arvelle Therapeutics for a total aggregate valuation of up to $960 million. Angelini Pharma will pay Arvelle Therapeutics $610 million following the European Medicines Agency’s (“EMA”) approval of the epilepsy drug cenobamate, sold under the brand name Xcopri®. Arvelle will also receive another $350 million if cenobamate reaches certain revenue targets....By: Ro...
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Cadent Therapeutics, a Cambridge, Massachusetts-based, privately held clinical stage biopharmaceutical company focused on the development of therapies for the treatment of cognitive, mood, and movement disorders, announced on December 17, 2020, that Novartis will acquire all of the outstanding capital stock of Cadent Therapeutics....By: Rothwell, Figg, Ernst & Manbeck, P.C.
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AstraZeneca, the British-Swedish multinational pharmaceutical company currently collaborating with the University of Oxford on a COVID-19 vaccine, will purchase Alexion Pharmaceuticals for $39 billion. The transaction, which awaits approval by shareholders and regulators, is the largest purchase by a health care company this year and is expected to close in the third quarter of 2021. Alexion was founded in 1992 and is headquartered in Boston but has a global presence. It is known for its...By: ...
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Hyundai is reportedly in the process of purchasing a large controlling interest in robot innovator Boston Dynamics from SoftBank in a deal valued at $1.1 billion. The transaction, under which Hyundai will reportedly obtain an 80% stake with SoftBank retaining around 20% through an affiliate, is expected to close by June of 2021, subject to regulatory approvals and other conditions......By: Rothwell, Figg, Ernst & Manbeck, P.C.
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The policy directive for the Small Business Innovation Research and Small Business Technology Transfer programs (collectively, “SBIR”) will be updated, effective October 1, 2020, to ensure that SBIR contracting benefits for participating firms are preserved, even if the participating entity pursues a merger or acquisition. This policy clarification is beneficial to SBIR firms who are considering or may in the future consider being acquired......By: Rothwell, Figg, Ernst & Manbeck, P.C.
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