Merck & Co. To Acquire Acceleron Pharma for $11.5 Bn
Merck & Co. has agreed to acquire Acceleron Pharma, a Cambridge, Massachusetts-based bio/pharmaceutical company, for an approximate total equity value of $11.5 billion.
Acceleron focuses on using the transforming growth factor (TGF)-beta superfamily of proteins that play a role in the regulation of cell growth, differentiation, and repair. The company’s lead drug candidate, sotatercept, is in Phase III development for treating pulmonary arterial hypertension (PAH), a blood vessel disorder. Sotatercept is in Phase III trials as an add-on to current standard of care for the treatment of PAH.
In addition to sotatercept, Acceleron’s portfolio includes Reblozyl (luspatercept-aamt), an erythroid maturation recombinant fusion protein approved in the US, Europe, Canada and Australia for treating anemia in certain rare blood disorders. Reblozyl is being developed and commercialized through a global collaboration with Bristol Myers Squibb.
Under the acquisition agreement, Merck & Co., through a subsidiary, will initiate a tender offer to acquire all outstanding shares of Acceleron, subject to certain conditions. Upon the successful completion of the tender offer, Merck & Co.’s acquisition subsidiary will be merged into Acceleron, and any remaining shares of common stock of Acceleron will be canceled and converted into the right to receive the same $180 per share price payable in the tender offer. The transaction is expected to close in the fourth quarter of 2021.