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September 28, 2018

M&As this week: Amicus Therapeutics, Alexion Pharmaceuticals, Tris Pharma

Amicus Therapeutics has signed an agreement to acquire Celenex for $100m.

Amicus Therapeutics has signed an agreement to acquire Celenex for $100m.

Celenex shareholders are eligible to receive $15m in development milestones and $262m in regulatory submission and approval milestones, as part of the agreement. In addition, Celenex will receive up to $75m over the next four years in milestone payments.

Celenex is a US-based clinical-stage gene therapy firm and a spin-off from Nationwide Children’s Hospital. The transaction will provide Amicus with access to ten clinical and pre-clinical stage AAV gene therapy programmes from Nationwide Children’s Hospital.

Based in the US, Amicus Therapeutics is a developer of medicines for rare and orphan diseases.

The acquisition will enable Amicus to leverage its expertise in global development and deliver novel therapies for rare metabolic disorders using Nationwide Children’s AAV technologies.

Alexion Pharmaceuticals has signed a definitive agreement to acquire Syntimmune for $1.2bn.

“Alexion Pharmaceuticals has signed a definitive agreement to acquire Syntimmune for $1.2bn.”

Alexion will make an upfront payment of $400m to Syntimmune, as part of the agreement. Syntimmune will also be eligible to receive milestone-based payments of up to $800m.

The transaction is expected to be closed in the last quarter of 2018, subject to customary closing conditions and other regulatory approvals.

Based in the US, Alexion is a pharmaceutical company engaged in the development of therapeutic products, while Syntimmune, also based in the US, is a clinical-stage biotechnology company that develops drugs for autoimmune diseases.

The acquisition will add Syntimmune’s SYNT001, an immunoglobulin G4 (IgG4) monoclonal antibody to Alexion’s clinical-stage rare disease portfolio.

Tris Pharma has completed the acquisition of NextWave Pharmaceuticals.

The acquirer company is a speciality pharmaceutical company engaged in the development of over-the-counter drugs and speciality generic products, while NextWave Pharmaceuticals is a developer of pharmaceuticals for central nervous system disorders and a subsidiary of Pfizer.

Both companies involved in the transaction are based in the US.

The acquisition will enable Tris to bolster its product portfolio for the treatment of patients with attention deficit hyperactivity disorder (ADHD).

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