Novo Nordisk To Acquire Forma Therapeutics for $1.1 Bn

Novo Nordisk has agreed to acquire Forma Therapeutics, a Watertown, Massachusetts-based clinical-stage bio/pharmaceutical company focus on sickle-cell disease and rare blood disorders, for $1.1 billion.

Forma’s lead product is etavopivat, an investigational oral, once-daily, being developed to improve anemia and red blood cell health in people with sickle-cell disease. Etavopivat is being evaluated in a global Phase II/III clinical trial in patients with sickle-cell disease and in a Phase II trial in patients with transfusion-dependent sickle-cell disease and another inherited hemoglobinopathy, thalassemia.

Under the agreement, Novo Nordisk will initiate a tender offer to acquire all outstanding shares of Forma Therapeutics’ common stock at a price of $20 per share in cash, for a total equity value of $1.1 billion.

The transaction has been unanimously approved by the Forma Therapeutics Board of Directors. The closing of the tender offer will be subject to certain conditions, including the tender of shares representing a majority of Forma Therapeutics’ outstanding shares, receipt of applicable regulatory approvals, and other customary conditions. The transaction is expected to close in the fourth quarter of 2022.

Source: Novo Nordisk