Shots:
Torrent Pharma acquired a controlling stake in JB Pharma from KKR in a strategic move to build a diversified healthcare platform
As per the deal, KKR will receive INR 25,689 crore (~$3B) Equity Valuation on a fully diluted basis. Torrent will acquire a 46.39% stake in JB Pharma for ₹11,917 crore (~$1.39B) at INR 1,600…
Shots:
Eli Lilly has entered into a definitive agreement to acquire Verve Therapeutics to advance cardiovascular therapies
As per the deal, Lilly will acquire Verve for $10.50/share in an all-cash transaction totaling ~$1B, along with one non-tradeable CVR of $3/share tied to first pts dosing with VERVE-102 for ASCVD in P-III trial by year 10 post-closing;…
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Supernus to acquire Sage Therapeutics, strengthening its neuropsychiatry product portfolio with Zurzuvae (zuranolone), & a novel CNS discovery platform
As per the deal, Sage’s shareholders will receive $8.5/share in an all-cash transaction totaling ~$561M, along with one non-tradeable CVR of $3.50/share (~$234M) tied to Zurzuvae milestones: $1 each for US sales allocable to Supernus reaching $250M (by…
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BioNTech has entered into a definitive purchase agreement to acquire CureVac in an all-stock transaction, strengthening its mRNA tech & capabilities
As per the deal, each CureVac share will be exchanged for ~$5.46 in BioNTech ADSs, implying a total equity value of ~$1.25B, with a collar-adjusted exchange ratio (0.04318 if BioNTech’s 10-day VWAP >$126.55; 0.06476…
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Sanofi to acquire Blueprint Medicines, expanding its rare immunological disease portfolio
As per the deal, Blueprint shareholders will receive $129/share in cash (~$9.1B equity value) & one non-tradeable CVR of $2 & $4 per share upon achievement of development & regulatory milestones, respectively, for BLU-808, totaling the deal value up to $9.5B on a…
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Eli Lilly has entered into a definitive agreement to acquire SiteOne Therapeutics incl. its asset, STC-004, expanding its pain pipeline
As per the deal, SiteOne shareholders will receive an upfront payment as well as regulatory & commercial milestones for a total consideration of ~$1B in cash
STC-004 is a non-opioid Nav1.8 inhibitor, which will advance into…
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Sanofi has entered into an agreement to acquire Vigil Neuroscience incl. its asset VG-3927 (TREM2 agonist), strengthening its neurology pipeline; Vigil’s VGL101 program is not a part of the acquisition
As per the deal, Sanofi will acquire Vigil for ~$470M, with shareholders receiving $8/share in cash & a non-transferable CVR of $2/share payable upon the…
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BioMarin has entered into a definitive agreement to acquire Inozyme, strengthening its enzyme therapies portfolio with the addition of INZ-701, an enzyme replacement therapy
As per the deal, Inozyme’s shareholders will receive $4.00 per share in an all-cash transaction for a total consideration of ~$270M; closing is expected in Q3’25
INZ-701 (SC) is being evaluated…
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QIAGEN has entered into a definitive agreement to acquire Genoox, a provider of AI-driven software that allows clinical laboratories to scale & accelerate the analysis of complex genetic tests
As per the deal, Genoox will receive $70M in cash & up to $10M in additional milestone payments
Acquisition adds Franklin, Genoox’s cloud-based platform, to…
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Novartis to acquire Regulus Therapeutics incl. its lead asset, farabursen via its wholly owned subsidiary, which will merge with Regulus upon closing, resulting in Regulus becoming an indirect wholly owned subsidiary of Novartis
As per the deal, Regulus will get ~$0.8B upfront, with shareholders receiving $7/share in cash, & ~$0.9B upon achievement of a…

