Mallinckrodt To Acquire Therakos for $1.3 Bn

Mallinckrodt plc, a specialty biopharmaceutical company, and The Gores Group , a global investment firm, have entered into a definitive agreement under which a subsidiary of Mallinckrodt will acquire Therakos, Inc., an immunotherapy company in a transaction valued at approximately $1.325 billion . Subject to customary closing conditions and regulatory approvals, the parties expect the transaction to be completed in the latter part of the third calendar quarter of 2015.

Therakos is focused on autologous immune cell therapy delivered through extracorporeal photopheresis (ECP). Therakos’ Photopheresis is approved by the US Food and Drug Administration for the palliative treatment of skin manifestations of cutaneous T-cell lymphoma (CTCL) in persons who have not been responsive to other forms of treatment. Outside the US, Therakos Photopheresis is also broadly approved for ECP and is used in immune-modulating applications in a variety of conditions, including CTCL, graft versus host disease, Crohn’s disease, solid organ transplants, and other diseases.

Therakos’ therapeutic platforms, including Therakos’ Cellex Photopheresis System, are integrated systems for administering autologous immune cell therapy through ECP. The Therakos’ Cellex Photopheresis System is approved and marketed as an outpatient therapy delivered through an integrated drug-device combination.

With this transaction, Mallinckrodt further broadens its specialty brands portfolio and diversifies its hospital offerings with the addition of Therakos’ drug-device system. Therakos Photopheresis platforms, including the n Cellex System, are expected to broaden Mallinckrodt’s footprint in hospitals by extending the company’s presence from multimodal surgical pain management and critical care respiratory therapies in neonatal intensive care units to include immunotherapies.

The Therakos commercial team will be integrated into Mallinckrodt’s current critical care organization within its Hospital Specialty Brands business.

Source: Mallinckrodt

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