Coherus BioSciences to Acquire Surface Oncology for ~$65M
Shots:
- Coherus will buy all outstanding Surface Oncology shares by offering its common stock at $5.2831/share resulting in a total transaction value of ~$40M along with anticipated net cash of b/w $20 & $25M
- Surface shareholders will also receive CVRs for 70% of milestone & royalty-based value from existing partnerships with Novartis & GSK as well as CVRs for 25% of up front for any ex-US rights to SRF114 & 50% for SRF388. The transaction is expected to close in Q3’23
- The acquisition will advance Coherus’ I-O pipeline with the addition of Surface Oncology’s clinical stage assets, SRF388, currently in P-II trials for lung & liver cancer, and SFR114 in a P-I/II study as monotx. for advanced solid tumors. Coherus plans to launch toripalimab for nasopharyngeal carcinoma, after receiving approval from the US FDA
Ref: Coherus | Image: Coherus
Related News:- Coherus BioSciences Reports the Pooled Analysis of Udenyca (biosimilar, pegfilgrastim) Demonstrated Similar Immunogenicity to Neulasta
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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.
