M&As this week: Madison Dearborn Partners, Versartis

8th June 2018 (Last Updated August 12th, 2019 10:39)

Madison Dearborn Partners (MDP) has reached an agreement to purchase a majority interest in Alcami Corp from asset management firm Ares Capital Corp.

Madison Dearborn Partners (MDP) has reached an agreement to purchase a majority interest in Alcami Corp from asset management firm Ares Capital Corp.

Ares Capital is serving as the lead debt financing arranger and will retain a minority equity stake in Madison.

The transaction is expected to be closed in the third quarter of this year, subject to customary closing conditions.

Madison Dearborn is a private equity firm specialising in leveraged buyouts of privately held companies, while Alcami is a contract pharmaceutical development and manufacturing services provider.

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

William Blair & Company was appointed as the financial adviser to Alcami for the transaction, while Kirkland & Ellis LLP was appointed as the legal adviser to MDP.

Versartis has signed a merger agreement with Aravive Biologics to create a clinical-stage biopharmaceutical company focused on the development of innovative oncology therapeutics.

The combined company will operate as Aravive and as a subsidiary of Versartis, upon completion of the transaction.

The transaction will be closed in the second half of 2018, subject to customary closing conditions and other regulatory approvals.

"Versartis has signed a merger agreement with Aravive Biologics to create a clinical-stage biopharmaceutical company focused on the development of innovative oncology therapeutics."

Based in the US, Versartis is a biopharmaceutical company focused on endocrinology, while Aravive Biologics, also based in the US, is a pre-clinical stage biopharmaceutical company that develops novel cancer therapeutics to treat malignancies.

Denali Therapeutics plans to purchase all outstanding shares in F-star Gamma, pursuant to the option agreement signed in 2016, for a total consideration of $24m and future contingent payments of up to $447m.

Denali Therapeutics and F-star had collaborated in 2016 on the development of the former’s biologics transport vehicle blood-brain barrier platform technology.

Based in the US, Denali Therapeutics is a biopharmaceutical company that develops therapeutic drugs for neurodegenerative diseases, while F-star Gamma is a UK-based developer of novel bispecific antibodies.

Bio-Techne Corp has signed an agreement to purchase QT Holdings Corp (dba Quad Technologies). Based in the US, Bio-Techne is involved in the development and manufacturing of high-quality purified proteins, while Quad Technologies, also based in the US, is a biotechnology company.

Fredrikson & Byron was appointed as the legal adviser to Bio-Techne for the transaction, while Burns & Levinson was the legal adviser to Quad Technologies.