M&A this week: Oxis International, Hangzhou Tianmushan, Zhejiang Jingxin Pharmaceutical
Immuno-oncology drug developer Oxis International has agreed to buy Georgetown Translational Pharmaceuticals (GTP) in exchange of 33% of its outstanding shares.
The acquisition will add a class of close-to-market central nervous systems (CNS) products to Oxis, and accelerate the clinical development of cancer and neurologic disease-related treatments.
The merger also includes a $125m upfront payment from Allergan, a company owned by the newly appointed CEO of Oxis. Allergan will also provide potential regulatory and commercial milestones of up to $875m.
Hangzhou Tianmushan Pharmaceutical intends to acquire an AnhuiIn-based pharmaceutical company in a $52.7m deal.
The acquirer plans to raise $26.3m through a private placement of shares to partly fund the acquisition.
Biopharmaceutical company Sinovac Biotech will be bought by Shandong Sinobioway Biomedicine for a cash consideration of $8 a share.
In a $2m deal, Zhejiang Jingxin Pharmaceutical will purchase an up to 25% stake in Spes Pharmaceuticals.