M&As this week: Malin Corporation, Eli Lilly and Company

19th January 2017 (Last Updated January 19th, 2017 18:30)

Irish life sciences company Malin Corporation has acquired 33% stake in Wren Therapeutics with the aim of developing rational therapeutic strategies.

Irish life sciences company Malin Corporation has acquired 33% stake in Wren Therapeutics with the aim of developing rational therapeutic strategies.

The target company is a UK-based biopharmaceutical organisation that is a spin out from the University of Cambridge, UK, and Lund University, Sweden.

"The acquisition terms also give Malin an option to increase its shareholding in Wren Therapeutics to 67%."

The acquisition terms also give Malin an option to increase its shareholding in Wren Therapeutics to 67%.

Eli Lilly and Company has reached an agreement to acquire a biopharmaceutical company named CoLucid Pharmaceuticals with the aim of enhancing its existing portfolio in migraine pain management and adding a potential near-term launch to its late-stage pipeline.

The acquisition is being executed through a tender offer and includes a purchase consideration of up to $960m.

Both companies involved in the acquisition are based in the US. The transaction is expected to be completed by the end of the first quarter of 2017.