Roche, a prominent Swiss pharmaceutical company, acquires 89bio, a US biotech firm
In a significant move, Swiss pharmaceutical giant Roche has announced its acquisition of US biotech firm 89bio for up to $3.5 billion. The deal, subject to customary closing conditions and regulatory approvals, is expected to close in the second half of 2022.
The acquisition strengthens Roche's portfolio in cardiovascular, renal, and metabolic diseases, and marks a strategic expansion of its presence in the field of liver diseases. Roche has stated that 89bio's work focuses on the discovery and development of novel therapeutics for non-alcoholic steatohepatitis (NASH) and other liver diseases.
89bio's main product is the drug candidate Pegozafermin, which is in late-stage development. Pegozafermin is being studied for the treatment of steatohepatitis, a severe and common inflammatory liver disease associated with fat accumulation in the liver, also known as hepatic steatosis. The acquisition opens up opportunities for future combination therapies.
Steatohepatitis is often a complication of obesity. The key figure behind the 89bio shares acquired by Roche for up to $3.5 billion is Aravinda Ananthalam, the founder and CEO of 89bio. Ananthalam and his team at 89bio are pioneering the development of innovative therapies for treating fatty liver disease.
Shareholders of 89bio will receive a special contingent value right of up to $6 per share as part of the deal. Roche is paying $14.50 in cash per 89bio share, totaling around $2.4 billion.
Additional information about the acquisition can be found on our website and ct. The acquisition details were announced on the c't 3003 video. The closing of the acquisition is expected to take place in the second half of 2022.
The acquisition is being facilitated by the video platform Peertube. This acquisition is a testament to the potential of innovative biotech firms and the strides they are making in the pharmaceutical industry.
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