Week of November 26, 2018 | Vol. 7, Issue 47
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In This Issue
Quick Links
Contact Information
Managing Director
Business Development
Jeremy C. Johnson
Managing Director
Head of M&A and Capital Advisory
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INDUSTRY M&A SNAPSHOT
Above is an overview of recent industry M&A activity. For additional information, see the charts below or click on the chart above to download complete transaction tables broken out by industry subsectors.
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Bourne Partners Advises Avista Pharma Solutions on Sale to Cambrex Corp. for $252 Million
Cambrex Corporation (NYSE: CBM), the leading manufacturer of small molecule innovator and generic Active Pharmaceutical Ingredients (APIs), and finished dosage forms, today announced it has entered into a definitive agreement to acquire Avista Pharma Solutions (Avista), a contract development, manufacturing, and testing organization, for approximately $252 million. Avista is a portfolio company of Ampersand Capital Partners, a leading healthcare focused private equity firm. With this acquisition, Cambrex will enter the large and growing market for early stage small molecule development and testing services. Avista offers a broad suite of scientifically differentiated services ranging from API and drug product development and cGMP manufacturing to stand-alone analytical, microbiology testing and solid state sciences. The acquisition of Avista further strengthens Cambrex's position as the leading fully integrated small molecule contract development and manufacturing organization (CDMO) across the entire drug lifecycle.
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Leo Pharma Inks $760M Rare Skin Disease R&D Deal With PellePharm
The agreement helps finance the San Francisco-based PellePharm's planned phase 2b trial of patidegib in high-frequency basal-cell carcinoma.
LEO Pharma has signed a research collaboration deal with PellePharm that commits up to $760 million for late-stage trials and includes an option for LEO to acquire the small rare disease company outright at some point in the future.
The deal begins with $70 million in equity financing and R&D support to fund a global phase 3 trial for PellePharm's patidegib-a hedgehog pathway-inhibiting topical gel for the prevention of Gorlin syndrome, a rare genetic disease that makes people more prone to develop basal-cell carcinomas. In return for a minority stake in the company, PellePharm could receive up to $690 million upon completion of certain regulatory and commercial milestones, in addition to double-digit royalty payments.
The two companies will form a joint R&D committee-with PellePharm and its 12 employees being responsible for global development and LEO Pharma holding an advisory role-while both plan to work on commercialization activities.
C
ontinue Reading at FierceBiotech
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An Overview of Transactions Within Market Subsegments
Below are summaries and charts with the past week's transactions from the different healthcare sectors. For a detailed table showing data for each industry transaction click on any of the charts. Total transaction values are provided in USD millions.
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Pharma & Biotech
15 transactions totaling $4,501 million
Supplies, Equipment & Services
19 transactions totaling $3,156 million
Healthcare IT & Managed Care
4 transactions
Healthcare Facilities & Distributors
7 transactions totaling $40 million
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Pharma & Biotech
17 private placements totaling $283 million
Supplies, Equipment & Services
11 private placements totaling $478 million
Healthcare IT & Managed Care
4 private placements totaling $4 million
Healthcare Facilities & Distributors
2 private placements totaling $1 million
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Pharma & Biotech
6 public offering totaling $102 million
Supplies, Equipment & Services
5 public offerings totaling $7 million
Healthcare IT & Managed Care
0 public offerings
Healthcare Facilities & Distributors
0 public offerings
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Each week, w
e provide updated trading
comps for leading comp-
anies from numerous healthcare subsectors.
To the right you will see a high-level breakdown of median revenue and EBITDA multiples for each of the specific sub sectors.
Note: data reflects prior week close.
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RECENT INDUSTRY HEADLINES
A Sampling of Relevant Industry Headlines from the Last Week
Below are snippets from relevant industry news articles from the past week. For additional information or the article's complete text, click the headline link to view the original publication.
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November 23, 2018 - Bio Space
In response to the opioid crisis, particularly as the federal government cracks down on opioid use, physicians are increasingly using
non-opioid therapeutics off-label in response. This has at least some physicians and one pharma company concerned.
November 21, 2018 - Fierce Pharma
Following major regulators in the U.S., China and Japan, the European Commission has given Takeda the go-ahead for its $62 billion acquisition of Shire-on one condition that Takeda is willing to fulfill.
November 21, 2018 - Fierce Biotech
Specialized implant manufacturer ChoiceSpine was acquired by Altus Capital Partners, marking the firm's second medtech acquisition in two years. Financial terms were not disclosed.
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