Latest News

Norgine to acquire Merus

Norgine HQ in Amsterdam, The Netherlands, © Norgine


by tg

Dutch Norgine BV will take-over Merus Labs International Inc. Under the agreement, Norgine will acquire all outstanding shares for US$1.65 per share in cash.

The transaction of US$342m will be financed through a combination of available cash and new credit facilities that Norgine has secured prior to the agreement. The transaction price of US$1.65 per share represents a premium of 63.4% to the closing price of US$1.01 on the TSX on May 10, 2017 and a premium of 55.1% over the 30-day volume weighted average price of $1.06 on the TSX.  

In 2016, Norgine’s total sales revenue was €295 million. The company is specialised in gastroenterology, hepatology, cancer and supportive  

Rothschild & Co. was acting as financial advisor and Torys LLP was acting as legal counsel to Merus. RBC Capital Markets is acting as financial advisor and Stikeman Elliott LLP is acting as legal counsel to Norgine.   

Kurma Partners close diagnostics fund at €50m

Venture Capital company Kurma Partners SA (Paris/Munich) said the €50m committed to the Kurma Diagnostics Fund 2 (KDx2) will finance 15 companies...

Dewpoint Therapeutics raise $77m in Series B financing

Dewpoint Therapeutics Inc, a spin-off from the German  Max Planck Institute of Molecular Cell Biology and Genetics, Dresden, and Whitehead...

Roche's IL-6 receptor blocker fails in Phase III

In the COVACTA global Phase III trial Roche’s approved standard medicine for blocking cytokine release syndrome (CRS) did not meet the primary...

Aicuris to launch AiCubator to fight AMR

Under the new AiCuris accelerator, Aicuris will finance young researchers, who develop resistance breaking antiinfectives to advance their projects....

Moderna set to deliver COVID-19 jab to the EU

The EU is continuing its COVID-19 vaccine shopping spree to supply member states with enough doses to vaccinate its entire population with a...

Scientists map ulcerative colitis

The study that combines multiple next-generation genetic sequencing technologies extensively characterize the diverse array of cells and cellular...

Evotec partners with Secarna to develop LNA drugs

Third generation Locked Nucleic Acids (LNAs) target pathogenic changes in gene expression. Secarna and Evotec have now formed a partnership aimed at...