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Announced

Sorrento Therapeutics to merge with ACEA Therapeutics in a $488m deal.

Financials

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Transaction Value£353m
Consideration TypeContingent Deferred Consideration, Ordinary Shares
Capital Owned-
Capital Bid For100%
EV/Sales-
EV/EBITDA-
Share Price Premium-
One Off Charge-

Tags

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United States

innovative treatments

Pharmaceuticals

Acquisition

Majority

Private

Domestic

Merger

Pending

Friendly

Single Bidder

Synopsis

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Sorrento Therapeutics, a clinical stage, antibody-centric, biopharmaceutical company, agreed to merge with ACEA Therapeutics, a clinical-stage, fully-integrated, pharmaceutical company, in a $488m deal. ACEA’s equity holders will receive up to an aggregate of $38m in shares of Sorrento common stock. Sorrento will also pay the ACEA equity holders up to $450m in additional payments, subject to the receipt of certain regulatory approvals and achievement of certain net sales targets. “The ACEA acquisition will bring us a step closer to developing into a major biopharmaceutical company and we look forward to welcoming the ACEA team into the Sorrento family,” Henry Ji, Sorrento Therapeutics Chairman and CEO.

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