Sobi to Acquire CTI BioPharma for ~$1.7B
Shots:
- Sobi will acquire CTI for $9.10/share of common stock in cash representing an equity value of ~$1.7B at an 89% premium to CTI's closing share price on May 2023. The transaction is expected to close in Q3’23
- The acquisition will strengthen Sobi's portfolio of leading hematology medicines through CTI's Vonjo, a US FDA-approved treatment for myelofibrosis. CTI is primarily focused on blood-related cancers and rare diseases & will become a wholly-owned subsidiary of Sobi
- The acquisition also accelerates Sobi's commercial footprint in the US. CTI will benefit from Sobi's resources, scale & strong international presence to expand & investigate new indications & development opportunities for Vonjo
Ref: PRnewswire | Image: CTI BioPharma
Related News:- CTI BioPharma’s Vonjo (pacritinib) Receives the US FDA’s Accelerated Approval for the Treatment of Myelofibrosis and Thrombocytopenia
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