M&A News: GSK, AstraZeneca, & MoreBy
A roundup of mergers & acquisitions from GlaxoSmithKline/Sierra Oncology, AstraZeneca/TeneoTwo, Ispen/Epizyme, and Amgen/Gensenta.
* GSK Completes $1.9-Bn Acquisition of Sierra Oncology
* AstraZeneca To Acquire TeneoTwo in $1.3-Bn Deal
* Ipsen To Acquire Epizyme for $247 M
* Amgen To Sell Turkish Pharma Company Gensenta for $135 M
GSK Completes $1.9-Bn Acquisition of Sierra Oncology
GlaxoSmithKline (GSK) has completed its $1.9-billion acquisition of Sierra Oncology, a San Mateo, California-based late-stage bio/pharmaceutical company focused on rare forms of cancer. GSK had announced the acquisition in April (April 2022).
Sierra Oncology’s lead asset is momelotinib, in Phase III trials for treating myelofibrosis, a cancer of the bone marrow impacting the normal production of blood cells, resulting in anemia. If approved, anticipates launch of the product in the US in 2023.
Momelotinib will increase GSK’s hematology portfolio, which includes Blenrep (belantamab mafodotin) for treating a certain type of multiple myeloma.
In completing the acquisition, GSK acquired all outstanding shares of Sierra Oncology for $55 per share in cash, representing an approximate total equity value of $1.9 billion.
AstraZeneca To Acquire TeneoTwo in $1.3-Bn Deal
AstraZeneca has agreed to acquire TeneoTwo, a bio/pharmaceutical company, in a deal worth up to $1.3 billion ($100 million upfront, up to $805 million in additional contingent R&D-related milestone payments, and up to $360 million in additional contingent commercial-related milestone payments).
TeneoTwo’s key asset is TNB-486, currently in Phase I development for treating relapsed and refractory B-cell non-Hodgkin lymphoma. TNB-486 belongs to a class of therapeutic antibodies known as T-cell engagers, which are emerging as a promising therapeutic approach in hematologic malignancies and solid tumors. T-cell engagers are bispecific molecules that are engineered to redirect the immune system’s T-cells to recognize and kill cancer cells. By binding to both CD19, an antigen expressed on B-cells, and to the CD3 receptor on T-cells, TNB-486 activates and recruits T-cells to CD19-expressing tumors where they can elicit an immune response, according to information from AstraZeneca. The acquisition would add to AstraZeneca’s position in developing drugs to treat blood cancers, including B-cell hematologic malignancies, including diffuse large B-cell lymphoma and follicular lymphoma.
The transaction is expected to close in the third quarter of 2022, subject to customary closing conditions and regulatory clearances.
Ipsen To Acquire Epizyme for $247 M
Ipsen, a Paris-based bio/pharmaceutical company, has agreed to acquire Epizyme, a Cambridge, Massachusetts-based bio/pharmaceutical company, for $247 million.
Epizyme’s lead candidate is Tazverik (tazemetostat), a drug in Phase III development for treating relapsed/refractory follicular lymphoma. The drug is being studied in combination with rituximab and lenalidomide in patients with relapsed/refractory follicular lymphoma who have received at least one prior therapy. Initial results from the Phase III randomized portion of this study are planned to read out in 2026. The drug has been granted accelerated approval by the US Food and Drug Administration.
Other key assets of Epizyme include EZM0414, in Phase I/Ib development for treating adult patients with relapsed or refractory multiple myeloma and diffuse large B-cell lymphoma, and a portfolio of preclinical programs focusing on epigenetic targets.
The transaction has been unanimously approved by both Ipsen and Epizyme Boards of Directors and is anticipated to close by the end of the third quarter of 2022, subject to the satisfaction of all closing conditions.
Amgen To Sell Turkish Pharma Company Gensenta for $135 M
Amgen has agreed to sell its 99.96% stake in Gensenta, a Turkish pharmaceutical company, to Eczacıbaşı, a Turkish conglomerate for $135 million. The acquisition is subject to receiving approval of the Turkish Competition Authority.