M&As this week: PTC Therapeutics, Cambrex

PTC Therapeutics has signed an agreement to acquire Agilis Biotherapeutics for $945m.

Agilis Biotherapeutics’ product pipeline includes four gene therapies programmes for the treatment of central nervous system (CNS) disorders.

The target company will receive $50m in cash, $150m in common stock, and additional $60m in milestone payments from PTC Therapeutics. It will also receive an additional $535m in milestone payments upon achieving regulatory approvals and another $150m in commercial milestone payments.

The transaction is expected to be closed in the second half of 2018, subject to customary closing conditions.

Based in the US, PTC Therapeutics is a biopharmaceutical company engaged in the development of orally administered small molecule drugs, while Agilis, also based in the US, is a biotechnology company focused on the development of innovative DNA therapeutics.

The acquisition will expand the acquirer company’s product pipeline with four gene therapy programmes and enable it to provide gene therapies for patients suffering from disorders of the CNS.

Cambrex has entered a definitive agreement to acquire Halo Pharma for $425m.

Halo owns and operates two facilities located in New Jersey, US, and Québec, Canada.

The acquisition is expected to be closed in the second half of 2018, subject to customary closing conditions.

Based in the US, Cambrex is a life sciences company that manufactures generic active pharmaceutical ingredients (APIs), while Halo Pharma, also based in the US, is a developer of drugs for paediatric indications and controlled substances.

The acquisition will enable the acquirer company to enter the large and growing finished dosage form contract development and manufacturing market and broaden its product pipeline. It will also add a broad range of capabilities to the company and attract a robust customer base.

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