| |||||
I. COMPLETED MERGERS AND ACQUISITIONS | |||||
| |||||
Company Acquired* (Country; Symbol) |
Acquired By Or Merged With* (Country; Symbol) |
Date Announced |
Date Completed |
Value (M)@ |
Terms/Details |
| |||||
454 Life Sciences (subsidiary of CuraGen Corp.; CRGN) |
Roche Diagnostics Corp. |
3/29 |
5/29 |
$154.9 |
Roche acquired the 454 subsidiary, paying $140M directly; the additional $14.9M was paid through the exercise of stock options; of the $140M, $25M will stay in escrow for 15 months |
| |||||
Alantos Pharmaceuticals Inc.* |
Amgen Inc. (AMGN) |
6/6 |
7/17 |
$300 |
Amgen purchased Alantos for $300M in cash |
| |||||
Alliant Pharmaceuticals Inc.* |
Sciele Pharma Inc. (SCRX) |
4/24 |
6/13 |
$109.8 |
Sciele paid Alliant $109.8M in cash; the deal also could include up to $62.5M in payments based on certain product development targets |
| |||||
Apoxis SA* (Switzerland) |
TopoTarget A/S (Denmark; CSE:TOPO) |
4/18** |
6/27 |
€14.5 ($19.7) |
TopoTarget acquired Apoxis in an all-share deal; it also could include milestone payments |
| |||||
Athersys Inc.* |
BTHC VI Inc. (OTC BB:BTVI) |
6/11 |
6/11 |
$65 |
Athersys became public by merging with a public shell; it will be listed on the Over- the-Counter Bulletin Board |
| |||||
Axxora Life Sciences Inc.* |
Enzo Life Sciences Inc. (unit of Enzo BioChem Inc.; NYSE:ENZ) |
5/30 |
6/5 |
$16.3 |
Enzo acquired Axxora for $16.3M in cash; Axxora is now a subsidiary of Enzo |
| |||||
BioEnvelop Inc. (Canada; unit of BioEnvelop Technologies Inc.; PK:BIENF) |
Paladin Labs Inc. (Canada; TSX:PLB) |
4/25 |
4/30 |
$1.9 |
Paladin purchased all of the out- standing shares of BioEnvelop for about $1.9M in cash and stock |
| |||||
Biomerk Inc.* |
Champions Biotechnology Inc. (OTC BB:CSBR) |
5/21 |
5/21 |
$1.16 |
Champions issued 4M restricted shares for rights to Biomerk's Tumorgrafts; it also gets the $475,000 Biomerk has in cash |
| |||||
BioRexis Pharmaceutical Corp.* |
Pfizer Inc. |
2/1 |
ND |
ND |
Pfizer bought BioRexis for an undisclosed amount |
| |||||
Biosite Inc. (BSTE) |
Inverness Medical Innovations (AMEX:IMA) |
4/5 |
6/26 |
$1.5B |
Inverness completed its tender offer of 15.76M shares for $92.50 each in cash; this brings Inverness' ownership in Biosite to 91.7% |
| |||||
BioVeris Corp. (BIOV) |
F. Hoffmann- La Roche Ltd. (Switzerland) |
4/4 |
6/26 |
$600 |
Roche bought BioVeris for $600M, or $21.50 per share, a 58% premium |
| |||||
Caprion Proteomics GP (subsidiary of Thallion Pharmaceuticals Inc.; Canada; TSX:TLN) |
New company formed by Great Point Partners LLC* |
6/28 |
7/11 |
$4.1 |
Thallion retains a 20% stake; the new company acquired Thallion's proteomics assets, including the CellCarta discovery platform, and has assumed $22.2M in long- term debt obligations; the new company also is issuing $4.1M in secured subordinated notes to Thallion at an interest rate of 9.5% per annum |
| |||||
Celunol Corp.* |
Diversa Corp. (DVSA) |
2/12 |
6/21 |
$155 |
Diversa merged with Celunol to create a new company called Verenium Corp., which now trades on NASDAQ under the ticker symbol “VRNM“ and is headquartered in Cambridge, Mass. |
| |||||
Chiral Quest Inc. (subsidiary of VioQuest Pharmaceuticals Inc.; OTC BB:VQPH) |
Chiral Quest Acquisition Corp. |
4/17 |
ND |
$2.7 |
Chiral Quest Acquisition Corp. acquired Chiral Quest for $1.7M in cash at closing and about $1M in liabilities |
| |||||
Corautus Genetics Inc. (VEGF) |
VIA Pharmaceuticals Inc. (VIAP) |
2/8 |
6/5 |
ND |
Corautus issued shares in exchange for shares of VIA, after which VIA stockholders own 76.4% of the combined company and Corautus stockholders own 23.6%, VIA plans to trade on Nasdaq with the symbol “VIAP“ |
| |||||
Digene Corp. (DIGE) |
Qiagen NV (the Netherlands; QGEN) |
6/4 |
6/4 |
$1.6B |
Qiagen purchased Digene in a $1.6 billion cash and stock deal; Digene shareholders are receiving for each Digene share either $61.25 in cash or 3.545 shares of Qiagen stock |
| |||||
eGene Inc. (OTC BB:EGEI) |
Qiagen North American Holdings Inc. (unit of Qiagen NV; the Netherlands; QGEN) |
4/13 |
7/10 |
$34 |
Qiagen acquired eGene for $34M in cash and stock |
| |||||
EZ-Med Technologies Inc.* |
GeoPharma Inc. (GORX) |
6/14 |
6/14 |
ND |
GeoPharma acquired EZ-Med for an un- disclosed amount |
| |||||
Genomics Collaborative (subsidiary of SeraCare Life Sciences Inc.; SRLS) |
BioServe* |
5/1 |
5/1 |
ND |
BioServe acquired Genomics Collaborative for its biomarker discovery and validation capabilities; it will operate as a fully integrated division of BioServe; terms were not disclosed |
| |||||
Ilypsa Inc.* |
Amgen Inc. (AMGN) |
6/5 |
7/18 |
$420 |
Amgen bought Ilypsa for about $420M in cash; Ilypsa is now a wholly owned subsidiary |
| |||||
InfoSpherix Inc. (unit of Spherix Inc.; SPEX) |
The Active Network Inc.* |
4/26 |
4/26 |
ND |
Spherix sold stock of its subsidiary to The Active Network for an undisclosed amount |
| |||||
Inpharmatica Ltd.* (UK) |
Galapagos NV (Belgium; Euronext:GLPG) |
12/6/06 |
5/8 |
€12.5 ($16.5) |
Galapagos issued up to 2.166M shares in the deal, which includes about €6M of cash held by Inpharmatica; Inpharmatica also could earn commercial milestones of €6.6 |
| |||||
Ingenium Pharmaceuticals AG (Germany) |
Probiodrug AG* (Germany) |
6/25 |
6/25 |
ND |
Probiodrug acquired Ingenium and simultaneously raised $27.6M in a Series A round for the new combined company |
| |||||
Fluorescent Detection Products business of Martek Biosciences Corp. (MATK) |
Columbia Biosciences Corp.* |
6/28 |
6/29 |
$0.9 |
Martek's board approved the sale of its Fluorescent Detection Products business for $900,000 in cash and a minority interest warrant position |
| |||||
MedImmune Inc. (MEDI) |
AstraZeneca plc (UK) |
4/23 |
6/19 |
$15.2B |
AstraZeneca acquired MedImmune for $58 in cash for each MedImmune share |
| |||||
NimbleGen Systems Inc.* |
F. Hoffmann-La Roche Ltd. (Switzerland) |
6/19 |
6/19 |
$272.5 |
Roche acquired NimbleGen for $272.5M |
| |||||
Oxxon Therapeutics Ltd.* (UK) |
Oxford BioMedica plc (UK; LSE:OXB) |
3/12 |
3/12 |
16 (US$30.9) |
Oxford agreed to acquire Oxxon by issuing 27.6M shares for the entire share capital of Oxxon, plus 4.2M shares to repay a loan from Oxxon shareholders*@ |
| |||||
Particle and Coating Technologies Inc.* |
KV Pharmaceutical Co. (NYSE:KV-A) |
6/14 |
6/14 |
ND |
KV acquired all of the technologies, assets and related intellectual property of Particle and Coating; terms were not disclosed |
| |||||
Stratagene (STGN) |
Agilent Technologies (NYSE:A) |
4/6 |
6/7 |
$250 |
Agilent acquired Stratagene for $10.94 a share, more than a 28% premium to Stratagene's closing stock price on April 5; some Stratagene assets were sold for $6.6M to Decisive Diagnostics, a new company formed by Joseph Sorge, former chairman, CEO and founder of Stratagene |
| |||||
Discovery Research unit of Tripos Inc. (TRPS) |
Commonwealth Biotechnologies Inc. (CBTE) |
5/15 |
6/6 |
$2.15 |
Commonwealth acquired the unit for $350,000 up front, which will be followed by payments of up to $1.8M from TDR receivables and billings |
| |||||
Urigen NA Inc.* |
Valentis Inc. (OTC BB:VLTS) |
10/5/06 |
7/16 |
ND |
Urigen shareholders now own about 67% of the merged company, which will be called Urigen Pharmaceuticals Inc. |
| |||||
II. PENDING MERGERS AND ACQUISITIONS | |||||
| |||||
Company To Be Acquired* (Country; Symbol) |
Acquiring Company* (Country; Symbol) |
Date Announced |
Expected Completion |
Value (M)@ |
Terms/Details |
| |||||
Biocon Ltd.'s* enzyme business (India) |
Novozymes A/S (Denmark; CSE:NZYM) |
7/18 |
4Q:07 |
$115 |
Novozymes is buying Biocon's enzyme business for $115M, including $97M up front, $5M when business targets have been met and $13M for committed service fees and lease payments over 10 years |
| |||||
Bioenvision Inc. (BIVN) |
Genzyme Corp. (GENZ) |
5/29 |
3Q:07 |
$345 |
Genzyme plans to acquire Bioenvision for $345M in cash; it completed a tender offer in July |
| |||||
EvoGenix Ltd. (Australia; ASX:EGX) |
Peptech Ltd. (Australia; ASX:PTD) |
5/7 |
3Q:07 |
A$156 |
Peptech offered A$1.12 per share for EvoGenix; it consists of A15 cents plus about half a share of Peptech stock for each share of EvoGenix |
| |||||
FermaVir Pharmaceuticals Inc. (OTC BB:FMVR) |
Inhibitex Inc. (INHX) |
4/10 |
3Q:07 |
$19 |
Inhibitex plans to issue about $19M in stock to acquire FermaVir; it would then own about 73% of the combined company |
| |||||
Geneservice Ltd.* (UK) |
Medical Solutions plc (UK; LSE:MLS) |
5/7 |
3Q:07 |
3.86 |
Medical Solutions is acquiring GeneService; deal is contingent on stockholder approval |
| |||||
Healthcare Acquisition Corp. (AMEX:HAQ) |
PharmAthene Inc.* |
1/22 |
3Q:07 |
$163.3 |
PharmAthene would get about 12.5M HAQ shares, valued at about $93.3M, as well as about $70M in cash, and up to $10M more if it enters a contract with the U.S. government by the end of 2007 |
| |||||
Humagen Fertility Diagnostics Inc.* |
MediCult A/S (Denmark; OSLO:MEC) |
5/2** |
3Q:07 |
DKK126 |
MediCult is paying $23M in cash for Humagen |
| |||||
Inyx Inc. (OTC BB:IYXI) |
CEO Jack Kachkar and an outside investor |
3/26 |
ND |
$115 |
Kachkar and the investor are offering $3.01 per share in a deal that would take the company private; Inyx has 53.6M outstanding shares; the value is the amount paid after accounting for warrants and options |
| |||||
JDS Pharmaceuticals LLC* |
Noven Pharmaceuticals Inc. (NOVN) |
7/10 |
3Q:07 |
$125 |
Noven agreed to acquire JDS for $125M in cash plus the assumption of $10M in liabilities |
| |||||
Lehigh Valley Technologies Inc.* |
Vyteris Holdings (OTC BB:VYHN) |
3/1 |
ND |
ND |
Vyteris entered into a letter of intent to buy Lehigh Valley Technologies |
| |||||
Mytogen Inc.* |
Advanced Cell Technology Inc. (OTC BB:ACTC) |
5/31 |
3Q:07 |
$5 |
Advanced Cell Technology entered a letter of intent to acquire Mytogen for $5M in stock and assumption of about $1M in liabilities |
| |||||
Organon BioSciences NV (unit of Akzo Nobel NV; the Netherlands; Amsterdam: AKZA) |
Schering-Plough Corp. |
3/12 |
4Q:07 |
€11B |
Schering's board approved the acquisition that is expected to close by the end of the year |
| |||||
Pacific Pharma Technologies Inc.* |
Upstream Biosciences Inc. (OTC BB:UPBS) |
3/19 | 2-3Q:07 | C$25 |
Upstream got a three-month exclusive option to conduct due diligence and negotiate terms for the acquisition of Pacific |
| |||||
Somanta Pharmaceuticals Inc. (OTC BB:SMPM) |
Access Pharmaceuticals Inc. (OTC BB:ACCP) |
2/21 |
3Q:07 |
$12.2 |
Access plans to acquire Somanta for $12.2M in stock, issuing about 1.5M shares |
| |||||
Tanox Inc. (TNOX) |
Genentech Inc. (NYSE:DNA) |
11/9/06 |
3Q:07 |
$919 |
Genentech offered $20 per share in cash for Tanox, with which it developed the approved asthma product Xolair; Tanox shareholders approved the merger; U.S. Federal Trade Commission asked for additional information and documentary materials, extending the waiting period imposed by the Hart-Scott-Rodino Antitrust Improvements Act of 1976 |
| |||||
TLT Medical Ltd.* (Switzerland) |
Arpida Ltd. (Switzerland; SWX:ARPN) |
7/18 |
3Q:07 |
CHF57 |
Arpida plans to acquire TLT Medical with an up-front payment and milestone payments that could total $47.5M |
| |||||
Ventana Medical Systems Inc. (VMSI) |
F. Hoffmann-La Roche Ltd. (Switzerland) |
6/26 |
ND |
$3B |
Roche offered to acquire Ventana for $75 per share, or about $3B in cash; in July, Ventana's board rejected the offer calling it inadequate; Roche said it will pursue a transaction unilaterally |
| |||||
III. TERMINATED MERGERS AND ACQUISITIONS | |||||
| |||||
Company To Be Acquired* (Country; Symbol) |
Acquiring Company* (Country; Symbol) |
Date Announced |
Date Terminated |
Value (M)@ |
Terms/Details |
| |||||
Biosite Inc. (BSTE) |
Beckman Coulter |
3/26 |
5/18 |
$1.67B |
Beckman and Biosite entered into a definitive merger agreement under which Beckman was to acquire all of Biosite's outstanding common stock for $85 per share; Biosite had intended to terminate the deal but in May Beckman matched a superior proposal by Inverness Medical Innovations, offering $90 a share instead; when, Inverness came back with an even higher offer of $92.50 per share, the deal with Beckman Coulter was terminated |
| |||||
Discovery Research unit of Tripos Inc. (TRPS) |
Provid Pharmaceuticals Inc.* |
1/2 |
5/15 |
$2 |
Deal called for Provid to acquire the UK-based drug discovery division of Tripos for $2M; in February, Tripos announced that Provid was having trouble financing the acquisition; in May, Tripos formed a new agreement with Commonwealth Biotechnologies Inc. |
| |||||
Notes: | |||||
# This chart is intended to include not only mergers and acquisitions of entire businesses, but also of divisions or subsidiaries of those businesses, where appropriate. In general, it does not include acquisitions of single products or of manufacturing facilities. | |||||
For those deals that are pending, and for which the acquiring company is issuing stock, the value of the transaction was calculated based on the closing price prior to the first announcement. For stock-based deals that have been completed, the final value was calculated based on the closing price before the merger's completion was announced. | |||||
* Private companies are indicated with an asterisk. ** Denotes the date the item ran in BioWorld International. | |||||
@ Conversions of non-U.S. currencies are calculated using the rate on the date the transaction closed, or for pending deals, on the date it was announced. *@ Acquisition occurred before the time frame of this chart but was not listed as completed in the previous chart. | |||||
ND = Not disclosed | |||||
Unless otherwise indicated, shares are traded on the Nasdaq exchange. | |||||
AMEX = American Stock Exchange; ASX = Australian Stock Exchange; CSE = Copenhagen Stock Exchange; LSE = London Stock Exchange; NYSE = New York Stock Exchange; OTC BB = Over-the-Counter Bulletin Board; PK = Pink Sheets; SWX = Swiss Stock Exchange; TSX = Toronto Stock Exchange. |