The Cross-Border Biotech Blog

Biotechnology, Health and Business in Canada, the United States and Worldwide

Tag Archives: Gilead Sciences

Monday Deal Review: February 18, 2013

Welcome to your Monday Biotech Deal Review for February 18, 2013! This week saw Gilead finally close its acquisition of YM Biosciences, with YM’s shares now de-listed from trading on the NYSE Amex and the TSX. Shareholders were given $2.65 for each of their common shares during the plan of arrangement.  On the investment front, Innovotech, RepliCel, Lignol, Biosenta and Biosign each had announcements relating to the close or amendment of existing private placements.  Click on to see the full details.

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Monday Deal Review: February 11, 2013

Welcome to your Monday Biotech Deal Review for February 11, 2013! This week saw YM Biosciences obtain the required court approval necessary before their plan of arrangement acquisition by Gilead could proceed. The transaction is essentially free to proceed by the effective date of the agreement. Cangene has acquired a hemophilia compound from the remaining assets of Inspiration Biopharmaceuticals, which is undergoing bankruptcy proceedings. Cangene paid $5.9 million for the compound. Also in the news, Stem Cell Therepuetics will undergo a plan of arrangement with Trillium Therepeutics, where the two companies will effectively be merged and continue to operate under Stem Cell’s name.

Of course, there was considerably more activity this week, so click through to get the full story!

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Monday Deal Review: February 4, 2013

Welcome to your Monday Biotech Deal Review for February 4, 2013! This week saw significant activity in the sector generally  On the M&A side, Valeant continued their ongoing acquisition strategy, buying the Russian Natur Product International, a primarily OTC private pharma company. Gilead’s acquisition of YM Biosciences took one step closer to completion as YM shareholders approved the statorily mandated vote to approve the plan of arrangement that will facilitate the arrangement. Court approval is now required as one of the final steps. Microbix was also involved in the week’s M&A activity, having sold its water for injections business to Irvine Scientific. The there was also significant investment activity this week, including Biosenta announcing a new private placement.

See detail on these and the the rest of the week’s major biotech stories by clicking through!

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Monday Deal Review: January 21, 2013

Welcome to your Monday Biotech Deal Review for January 21, 2013!  Medicago made news last week with a $15 million loan agreement with an unnamed pharmaceutical company. The funds are being used for Medicago’s plant-based VLP vaccine pipeline. As the agreement provides for potential licensing options with that partner, we will be watching closely to see any further announcements.

YM Biosciences, as it continues with its plan of arrangement transaction with Gilead, has received the endorsement of two proxy firms who have recommended to shareholders that they vote in favour of the transaction. This will likely allow YM Biosciences to obtain the shareholder approval required by statute to be able to continue with the arrangement.

Paladin labs, meanwhile, has closed their acquisition of a controlling stake in Ativa Pharma of Mexicom, and has also in-licensed a new biologic from Apeiron Biologics. Also, last week we saw Theratechnologies conclude their recent issues with the NASDAQ exchange by voluntarily delisting. They remain on the TSX, however.

As always, click through to see more on these deals as well as the rest of last week’s major biotech activity.

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Monday Deal Review: December 17, 2012

Welcome to your Monday Biotech Deal Review for December 17, 2012.  This week saw the completion of a number of previously announced acquisitions, as well as the announcement of new ones. The latter group includes Gilead’s acquisition of YM Biosciences and Helix’s sale of Rivex to Pharmascience. See the details on these major transactions, as well as the past week’s other biotech news, by clicking through.

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No Company is an Island: More Pharma and Biotech Collaboration

Island Nihoa_aerialTwo deals this week showcase collaborative efforts between major pharma players:

 

 

These follow last month’s earlier-stage collaborations between GSK and Pfizer for HIV treatments and betwen AstraZeneca and Merck for cancer treatments.

Why are we seeing these collaborations?  I have a couple of thoughts:

  1. This is a tough regulatory environment and companies are going to reach for every advantage they can get … maybe putting more effort into initial approvals that they might otherwise dole out over time.
  2. I think it’s notable that these projects are all aimed at HIV and cancer, two complex and incredibly tenacious diseases.  The low hanging fruit is (a) gone, and (b) not finishing the jobs. 

Is this the end of magic bullets and the beginning of biotech patent pools?  Too soon to say.

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CV Therapeutics – Going Once, Going Twice…

Sold to the Knight in White for $1.4 billion? With Astellas announcing this morning that they will not be outbidding Gilead for CV Therapeutics, the share price dropped back down slightly below Gilead’s $20 per share offer price, indicating that investors don’t see another bidder materializing.

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M&A! Hooray! Genentech’s and CV Therapeutics’ Dreams Come True

Seems like $95 per share was the magic number for Genentech, which finally succumbed to Roche’s persistent advances;

and in other new news…

CV Therapeutics‘ (Nasdaq: CVTX) found a White Knight in Gilead Sciences, which will pay $1.4 billion ($20/share), topping Astellas’ $16/share offer, which CV Therapeutics rejected a few weeks ago.  Pre-market trading is over $20, though, so maybe Astellas isn’t done trying.

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