M&As this week: Alexion Pharmaceutical, OvaScience

Alexion Pharmaceuticals has completed an acquisition of Syntimmune.

Following the transaction, Syntimmune will add its clinical-stage drug candidate SYNT001 to Alexion’s portfolio.SYNT001 is a humanised monoclonal antibody (mAb) that is currently being evaluated in Phase Ib/IIa studies.

Based in the US, Alexion is a biopharmaceutical company, while Syntimmune is a biotech start-up focused on the development of novel therapies.

OvaScience and Millendo Therapeutics have provided an update to a previously signed merger and financing agreement.

Great Point Partners has joined the previously announced investor syndicate comprising New Enterprise Associates, Frazier Healthcare Partners and Roche Venture Fund.

The total funds raised from the investor syndicate has increased to approximately $50m.

According to the updated agreement, security holders of OvaScience will hold 17% of the combined company, while Millendo security holders will hold 63% and investors participating in the financing will hold the remaining 20%.

Based in the US, OvaScience is engaged in the development of novel treatments for women and couples struggling with infertility, while Millendo Therapeutics is focused on the development of therapies for orphan endocrine diseases.

Hikma Pharmaceuticals has signed an agreement to acquire Medlac Pharma Italy.

The acquisition involves Medlac’s product portfolio of 23 injectable products and pipeline, high-quality injectable facility, and adjacent vacant land.

Based in the UK, Hikma Pharmaceuticals is a multinational pharmaceuticals company, while Medlac Pharma is an Italy-based pharmaceutical company specialising in dermatology.

Tetra Bio-Pharma has signed a non-binding agreement to acquire Panag Pharma for $12m on a debt-free basis.

Tetra will pay $3m in cash to the shareholders of Panag and $9m in the form of common shares.

The shareholders will also be eligible to receive $15m in milestone payments, following marketing approvals from the US Food and Drug Administration (FDA) and the European Medicines Agency (EMA) for human and veterinary products under development.

Based in Canada, Tetra is cannabinoid-based drug discovery and development company, while Panag Pharma is a biotechnology company focused on the development of novel cannabinoid-based formulations.