Kyowa Kirin to Acquire Orchard Therapeutics for ~$477.6M
Shots:
- Kyowa Kirin to acquire Orchard Therapeutics for $16.00 per ADS in cash with an enterprise value of ~$387.4M representing a premium of 144% to Orchard ’ volume-weighted avg. price per ADS over the previous 30 days
- Orchard shareholders will receive an additional CVR of $1.00 per ADS upon approval of OTL-200 for MLD in the US which will be paid for a total of $17.00 per ADS representing an equity value of ~$477.6M if the conditions are met. The transaction is expected to close in Q1’24
- The acquisition strengthens Kyowa Kirin’s portfolio, maximizes the value of Orchard’s Libmeldy, and accelerates the development of next-in-line MPS programs as well as other early research programs. Libmeldy is currently under the US FDA’ Priority Review with an expected PDUFA date of Mar 2024
Ref: Globenewswire | Image: Kyowa Kirin
Related News:- Grünenthal Signed Joint Venture Collaboration Agreement with Kyowa Kirin to Establish Medicines Portfolio
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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.
