Ono Pharmaceutical, an Osaka, Japan-based bio/pharmaceutical company, has agreed to acquire Deciphera Pharmaceuticals, a Waltham, Massachusetts-based bio/pharmaceutical company, for $2.4 billion. 

The pending acquisition would add to Ono’s oncology operations and provide the company with commercial operations in the US and Europe. Deciphera’s key commercial product is Qinlock (ripretinib), which is approved in over 40 countries and marketed globally, including in the US, Europe, and China, for the treatment of fourth-line gastrointestinal stromal tumors, a type of cancer that begins in the digestive system. A key late-stage drug candidate is vimseltinib, now in Phase III development, for treating patients with tenosynovial giant cell tumors, a group of rare tumors that cause the synovium, bursae or tendon sheaths to thicken and overgrow and damage the surrounding tissue and structures of affected limbs.  

Under the agreement, Ono will acquire all outstanding shares of Deciphera at a price of $25.60 per share in cash. Ono will commence the tender offer, and upon the successful completion of the tender offer, Ono’s wholly owned subsidiary will merge into Deciphera, and any shares of common stock of Deciphera not tendered into the offer will receive the same dollar per share price payable in the tender offer in the subsequent merger. 

The closing of the proposed acquisition is subject to customary closing conditions, including US antitrust clearance and the tender of a majority of Deciphera’s outstanding shares of common stock. The companies expect to complete the acquisition in the third quarter of 2024. 

Source: Ono Pharmaceutical