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January 28, 2014
07:04 EDTEBSEmergent announces waiting period expiration for Cangene acquisition
Emergent BioSolutions announced that the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, in connection with Emergentís proposed acquisition of Cangene has expired. The expiration of the waiting period for antitrust review of the proposed acquisition satisfies one of the conditions to the closing of the acquisition. As announced on December 11, 2013, Emergent and Cangene have entered into a definitive agreement under which Emergent will acquire all of the outstanding common shares of Cangene in an all-cash transaction valued at $3.24 per share on a fully diluted basis for an aggregate purchase price of $222M. Completion of the acquisition is subject to approval by 66 2/3% of the votes cast by Cangene shareholders at a special shareholder meeting scheduled for February 12, approval by the Ontario Superior Court of Justice at a hearing scheduled for February 18 and other customary closing conditions. The transaction is expected to close before the end of1Q14.
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December 17, 2014
07:10 EDTEBSEmergent BioSolutions acquires antibiotics portfolio
Emergent BioSolutions announced that it has acquired the EV-035 series of molecules from Evolva Holding SA. EV-035 is a series of novel small molecule broad spectrum antibiotics of the 4-oxoquinolizine class and targets bacterial type IIa topoisomerase. The lead molecule in the series, GC-072, has demonstrated protection in vivo from lethal B. pseudomallei infection when administered orally. GC-072 is being developed as a potential oral and IV treatment for B. pseudomallei under a three-year, $15M contract with the Defense Threat Reduction Agency, or DTRA, of the U.S. Department of Defense. B. pseudomallei is a gram-negative pathogen classified by the Centers for Disease Control and Prevention as a Category B bioterrorism agent and a priority threat capable of being easily weaponized and disseminated. The scope of the DTRA contract includes investigating GC-072 as a treatment for B. pseudomallei in preclinical in vitro and in vivo studies, conducting formulation, manufacturing and toxicology studies, exploring efficacy in additional multi-drug resistant biodefense and commercial pathogens, and preparing an Investigational New Drug application for submission to the FDA.
05:24 EDTEBSEmergent BioSolutions to acquire EV-035 series from Evolva
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