M&As this week: Tongyang, Glenmark Pharmaceuticals, Leerink Revelation Partners

1st June 2018 (Last Updated June 1st, 2018 00:00)

Tongyang Networks Corporation has acquired a 29.72% stake in biotechnology company MediGene for KRW30.3bn ($28.02m).

Tongyang Networks Corporation has acquired a 29.72% stake in biotechnology company MediGene for KRW30.3bn ($28.02m).

Based in South Korea, the acquirer company provides technology and services to the energy, information technology (IT), life and trading industries, while the target company, based in Germany, is engaged in the development of drugs for the treatment of various types and stages of cancer.

Indian pharmaceutical company Glenmark Pharmaceuticals has agreed to acquire Zorg Laboratories for Rs0.5m ($0.007m) in cash.

Also based in India, the target company is involved in the marketing of generic pharmaceutical products.

Leerink Revelation Partners, Industry Ventures and other investors have purchased the entire common stock of AcelRx Pharmaceuticals from investment firms Three Arch Partners III, Three Arch Associates III, Three Arch Partners IV, and Three Arch Associates IV.

Based in the US, Leerink Revelation Partners and Industry Ventures are investment firms, while the target company, also based in the US, is a specialist pharmaceutical company.

Keensight Capital and Edmond de Rothschild Equity Strategies (ERES) have acquired a majority interest in Biovian Oy.

"Indian pharmaceutical company Glenmark Pharmaceuticals has agreed to acquire Zorg Laboratories for Rs0.5m ($0.007m) in cash."

The acquirer companies are private equity firms based in France, while the target company is a biopharmaceutical contract development and manufacturing organisation based in Finland.

Biovian intends to use the proceeds towards expanding its capacities, international expansion, strengthening its services portfolio and providing better services.

Biovian has appointed Achelous Partners as the exclusive M&A adviser for the transaction, while Keensight Capital has appointed Evli Corporate Finance and William Blair & Company as financial advisors.

Linden Capital Partners has acquired Evolution Research Group (ERG) from US-based private equity firm DFW Capital Partners.

Linden Capital secured senior debt financing required for the transaction from Golub Capital.

Based in the US, the acquirer company is a private equity firm, while the target company, also based in the US, is a clinical research business providing services to pharmaceutical companies and contract research organisations (CROs).

The acquisition will help Linden advance ERG’s business, which includes 21 highly experienced and quality-focused sites and more than 40 principal investigators.

ERG has appointed Harris Williams & Co. and Edgemont Capital Partners as financial advisers and Ice Miller as legal adviser for the transaction, while Linden has appointed Kirkland & Ellis as legal adviser.