Innoviva Entered into a Definitive Merger Agreement with Entasis Therapeutics
Shots:
- Innoviva to purchase all the remaining equity securities of Entasis for $2.20 per share which represents a 50% premium to Entasis’ closing price of $1.47 per share on Jan’22. The transaction is expected to close in Q3’22
- On a fully diluted basis, the acquisition transaction values Entasis' equity at $113M. Innoviva already owns ~60% of outstanding shares of Entasis common stock
- Both the companies will be working together for the development of SUL-DUR for the treatment of multi-resistant gram negative bacteria with an expected NDA submission in Q3’22
Ref: Globenewswire | Image: Innoviva
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Neha is a Senior Editor at PharmaShots. She is passionate and very enthusiastic about recent updates and developments in the life sciences and pharma industry. She covers Biopharma, MedTech, and Digital health segments along with different reports at PharmaShots. She can be contacted at connect@pharmashots.com.
