Actavis Group, an international generic pharmaceuticals company headquartered in Iceland, is to acquire Amide Pharmaceutical, a privately owned US generic pharmaceuticals company. The deal will see Actavis acquire Amide for an initial gross consideration of $US500 million in cash with up to an additional $US100 million payable over two years subject to performance. The deal brings together two premier generics companies with complementary strengths in Europe and the US and represents a significant milestone in Actavis’ plans to become one of the leading global companies within the sector. The combined company will have one of the broadest portfolios in the generics sector with over 500 products on the market and minimal overlap between the respective products. It will also have 136 products in its in-house development and is expected to file at least 15 Abbreviated New Drug Applications (ANDAs) in 2005. Actavis has a website at http://www.actavis.com/.
Affymetrix of Santa Clara, CA, has entered into a definitive agreement to acquire ParAllele BioScience, a privately held South San Francisco-based company that provides assay technology for comprehensive genetic studies. Initially applied to genotyping, these highly flexible assays have the potential to be used in a broad variety of microarray applications. When used with Affymetrix’s GeneChip® technology, ParAllele’s proprietary assay effectively gives researchers a powerful ‘molecular microscope’ for examining the entire genome. The acquisition builds on a 2-year collaboration between the companies. By acquiring ParAllele, Affymetrix expects to strengthen its assay R&D capabilities, accelerate its development and commercialization of new products, and drive sales by opening new market opportunities. Further information is available at http://www.affymetrix.com/ and at http://www.parallelebio.com/.
Agilent Technologies of Palo Alto, CA, and privately held Scientific Software (SSI) of Pleasanton, CA, have signed a definitive merger agreement for Agilent to acquire SSI, a leading provider of scientific information management solutions. The acquisition would bring together Agilent’s analytical instrumentation, data systems and services with SSI’s strong position in chromatographic data systems and informatics. At closing, Agilent would have one of the largest installed bases of chromatographic data systems, with more than 120 000 installations, and one of the broadest portfolios of laboratory informatics software in the life science and chemical industries. The company has a website at http://www.agilent.com/.
Australian company Bionomics has agreed to acquire drug-discovery company Iliad Chemicals of Melbourne, Australia, for $A9 million in Bionomics scrip, with a potential further $A3 million milestone payment in Bionomics scrip if a current Iliad development product achieves an agreed clinical or commercial milestone. Iliad uses its proprietary MultiCore® synthetic chemistry technology platform to discover and optimize new drugs, focusing on CNS disorders and cancer. The combination of Bionomics’ expertise in targeting angiogenesis (growth of new blood vessels) and Iliad’s molecules targeting existing blood vessels is expected by Bionomics’ to result in a comprehensive and complementary approach to develop new cancer treatments. Further information is available at http://www.bionomics.com.au/.
Cephalon of Frazer, PA, has signed a definitive merger agreement to acquire Salmedix of San Diego, CA, for approximately $US160 million cash; the company is required to pay an additional $US40 million of cash payments upon the achievement of certain regulatory milestones. The merger is expected to close in Q2, after which Salmedix will become a wholly owned subsidiary of Cephalon. Salmedix is primarily focused on developing compounds for the treatment of hematologic malignancies. Salmedix’s most advanced product Treanda™ (bendamustine hydrochloride) is currently in phase II clinical trials in the US and Canada for the treatment of indolent (slowly progressing) non-Hodgkin’s lymphoma (NHL). Bendamustine hydrochloride is currently marketed in Germany by a third party for the treatment of NHL, chronic lymphocytic leukemia, multiple myeloma, metastatic breast cancer and other solid tumors. Further information is available at http://www.cephalon.com/.
Canadian company Chromos Molecular Systems has entered into a Letter of Intent to acquire Targeted Molecules (TMC), a privately held San Diego-based biotechnology company focused on the research and development of two antibody product candidates for treatment of multiple sclerosis and acute thrombosis. Both of TMC’s selective adhesion molecule inhibitors (SAMIs) have extensive preclinical validation including comparisons with molecules that have achieved successful results in clinical trials. The transaction is anticipated to close in July 2005. Chromos has a website at http://www.chromos.com/.
Invitrogen of Carlsbad, CA, has signed a definitive agreement to acquire privately held immunological assay manufacturer Caltag Laboratories of Burlingame, CA, in a cash transaction totaling $US20 million. Caltag develops, manufactures and markets antibodies and reagents to biotechnology and pharmaceutical companies, private and university hospitals and research laboratories. The transaction is expected to close by the end of Q2 2005. The companies have websites at http://www.invitrogen.com/ and http://www.caltag.com/.
Medeorex of New York City, NY, has signed a term sheet to acquire privately held CardioGenics of Toronto, Canada. The transaction is expected to close by end-June. The acquisition will be completed through a merger between CardioGenics and a to-be-formed wholly owned Ontario subsidiary of Medeorex, pursuant to which Medeorex will issue shares of its common stock to the shareholders of CardioGenics. CardioGenics is a biotechnology company dedicated to the development of superior products for the in vitro diagnostics testing market and has developed several proprietary technologies. CardioGenics is presently in the process of completing the initial commercialization and launch of the company’s patented core technology.
Netherlands-based QIAGEN has entered into a definitive agreement to acquire the German biotech artus. Under the terms of the agreement, QIAGEN will pay approximately $US39.2 million in cash in exchange for all of the outstanding capital stock of artus. The biotechnology company specializes in the development, production and sale of diagnostic kits based on modern DNA analytical procedures. The main focus of these detection procedures is PCR and real-time PCR technology. artus’ product portfolio and technology platform generates exciting technology synergies with QIAGEN’s preanalytical solutions for nucleic acids and QIAGEN’s research market-targeted PCR consumables portfolio. QIAGEN’s preanalytical sample preparation solutions are already an integral part of most of artus’ diagnostic assays, reflecting a long-standing partnership between both companies. artus’ portfolio spans over 60 assays including 30 CE marked assays for detection of a variety of viral and bacterial pathogens such as SARS, herpes simplex virus, Epstein-Barr virus, West Nile virus, malaria and Salmonella. Further information can be found at http://ww.qiagen.com/ and at http://www.artus-biotech.com/.
Sankyo and Daiichi Pharmaceutical, both headquartered in Tokyo, Japan, have signed a definitive agreement on the integration of the two companies through the establishment of a joint holding company to be named Daiichi Sankyo. The integration will take place in a two-stage process. First, a joint-holding company will be created through a stock transfer on September 28, 2005, at the transfer ratio of one Sankyo share to one holding company share, and one Daiichi share to 1.159 holding company shares. Upon completion of the stock transfer, Sankyo and Daiichi will become wholly owned subsidiaries of the holding company. An integration committee will be established within the holding company to accelerate the business integration, and priority will be placed on combining the prescription pharmaceuticals businesses of both companies into Daiichi Sankyo by April 2007. Further information is available at http://www.sankyo.co.jp/.
VioQuest Pharmaceuticals of Monmouth Junction, NJ, has signed a nonbinding letter of intent to complete a merger transaction with Greenwich Therapeutics, a privately held New York-based biotechnology company focused on the development of novel compounds with broad therapeutic applications in oncology. In the proposed merger, VioQuest would acquire two anticancer agents — sodium stibogluconate (SSG) and API-2. As a result of the proposed merger, the stockholders of Greenwich Therapeutics will receive up to approximately 47% of VioQuest on a fully diluted, postmerger basis. Approximately one-half of the additional equity will be set aside in escrow, and will only be released incrementally upon the achievement of certain clinical milestones relating to phase I and phase II clinical studies for each compound. Further information is available at http://www.vioquestpharm.com/.