AstraZeneca to Aquire Icosavax for ~$1.1B
Shots:
- As per the deal, AstraZeneca will pay $800M as an up front payment at $15.00 per share in cash at a 43% one-day premium to buy all outstanding shares of Icosavax
- Additionally, Icosavax is eligible to receive a non-tradable CVR at $5.00 per share as regulatory and commercial milestones for a total of $300M. AstraZeneca will also acquire Icosavax's cash & marketable securities totaling $229M
- The acquisition will strengthen AstraZeneca's expertise in addressing RSV by adding Icosavax's lead vaccine candidate, IVX-A12 to the late-stage pipeline. IVX-A12 is a P-III ready vaccine that uniquely targets both RSV & hMPV
Ref: AstraZeneca | Image: AstraZeneca
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Kritika is a content writer at PharmaShots. She is interested in covering recent innovations from the pharma & MedTech industry. She covers news related to Product approvals, clinical trial results, and updates. She can be contacted at connect@pharmashots.com.
