M&As this week: Cambrex Corporation, Boehringer Ingelheim, Supernus Pharmaceuticals

14 September 2018 (Last Updated September 17th, 2018 10:12)

Cambrex Corporation has completed the previously announced acquisition of Halo Pharma (Halo) for $425m.

Cambrex Corporation has completed the previously announced acquisition of Halo Pharma (Halo) for $425m.

Cambrex is a life sciences company specialising in the development of small molecule active pharmaceutical ingredients (APIs), while Halo is a contract development and manufacturing organisation that produces oral dosage, sterile ointments and APIs.

Both companies involved in the transaction are based in the US.

The transaction enables the acquirer company to expand its manufacturing footprint in North America, with the addition of two good manufacturing practice (GMP) compliant manufacturing facilities of the target company. It will also strengthen Cambrex’s global API manufacturing network.

Boehringer Ingelheim has purchased all outstanding shares of ViraTherapeutic for €210m ($243.7m).

Based in Germany, Boehringer Ingelheim is engaged in the development and manufacture of human and veterinary pharmaceutical products, while ViraTherapeutics is an Austria-based biopharmaceutical company that develops immunotherapy drugs for oncolytic viruses.

“Boehringer Ingelheim has purchased all outstanding shares of ViraTherapeutic for €210m ($243.7m).”

The acquisition will strengthen Boehringer Ingelheim’s immuno-oncology portfolio.

Supernus Pharmaceuticals has signed a merger agreement with Biscayne Neurotherapeutics (Biscayne).

Supernus will pay $15m in upfront payment, $75m in development milestones and approximately $95m in sales milestones to Biscayne’s security holders, as per the agreement. In addition, Biscayne will be eligible to receive royalty payments.

Supernus will gain exclusive worldwide rights (except in certain Asian countries) to Biscayne’s drug candidate SPN-817, a novel treatment for epilepsy, as part of the deal.

Currently in its phase one clinical development stage, the drug is approved by the US Food and Drug Administration for the treatment of Dravet Syndrome, which is a severe form of childhood epilepsy.

Both Supernus Pharmaceuticals and Biscayne are US-based pharmaceutical companies engaged in the development of novel drugs for central nervous system disorders.

Biscayne’s SPN-817 drug will be a complementary addition to the acquirer company’s neurology drug portfolio.