I. COMPLETED MERGERS AND ACQUISITIONS | |||||
Company Acquired (Country; Symbol) |
Acquired By Or Merged With (Country; Symbol) |
Date Announced |
Date Completed |
Value (M)*** |
Terms/Details |
Astralis LLC* |
Hercules Development Corp. (Canada; OTC BB:HDVG) |
9/28 |
11/14 |
$110.6 |
Hercules acquired Astralis with 28M shares of new stock; the deal is worth $110.6M and includes a private equity placement by Hercules of $3.2M; Hercules has changed its name to Astralis Pharmaceuticals Ltd. and it will trade on the Over the Counter Bulletin Board under the symbol ASTR |
Axys Pharmaceuticals Inc. (AXPH) |
Celera Genomics Group (NYSE:CRA) |
6/13 |
11/16 |
$173.4 |
Celera acquired Axys, issuing Celera stock equal to $4.65 per Axys share; the value of the deal is based on Axys' 37.3M shares outstanding |
BioNative AB (Sweden)* |
Viragen Inc. (AMEX: VRA) and Viragen (Europe) Ltd. (OTC BB:VERP) |
7/12 |
10/1 |
$2.5 |
Viragen Europe acquired BioNative with 2.9M shares, which values the deal at $2.5M; BioNative will be called ViraNative |
Biosepra (unit of Invitrogen Corp.; IVGN) |
Ciphergen Biosystems Inc. (CIPH) |
6/26 |
7/31 |
$12 |
Ciphergen acquired the BioSepra chromatography business for $12M in cash |
British Biotech plc's discovery arm (UK; BBIOY; LSE:BBG) |
OSI Pharmacueticals Inc. (OSIP) |
8/7 |
9/28 |
£8.7 (US$12.4) |
OSI acquired British Biotech's facilities in Oxford, and laboratory equipment, for US$12.4M |
CCEL Bio-Therapies (subsidiary of Cryo-Cell International Inc.; CCEL) |
Saneron Therapeutics Inc.* |
10/12 |
10/12 |
ND |
CCEL and Saneron merged; Cryo-Cell will own about 43% of the merged company, Saneron CCEL Therapeutics Inc., which received $2.7M in research grants; pursuant to the agreement, Cryo-Cell cannot be called for any further capital investment either in cash or stock; the value of the merger was not disclosed |
Cell Map (division of GlaxoSmithKline plc; UK) |
Cellzome GmbH (Germany)* |
9/27 |
9/27 |
ND |
Cellzome acquired Cell Map; GSK will become a minority shareholder in Cellzome; other terms were not disclosed |
ESC Merger Sub Inc. (subsidiary of Ergo Science Corp.; ERGO) |
Ergo Science Corp. (ERGO) |
10/18 |
10/18 |
ND |
Ergo Science merged with its subsidiary; the new company will be listed on the Over the Counter Bulletin Board under the symbol ERGO; each share of pre-merger common stock was converted into the right to receive 0.5 shares of post-merger common stock, plus cash in lieu of any fractional shares; the value of the merger was not disclosed |
Hesed Biomed Inc.* |
Abgenix Inc. (ABGX) |
11/13 |
11/13 |
$15.9 |
Abgenix acquired Hesed by issuing about 540,000 shares of common stock valued at $25 each and paying $360,000 in cash in exchange for all of Hesed's shares; Abgenix also assumed about $2M of Hesed's debt |
SBL Vaccin AB (subsidiary of Active Biotech AB; Sweden; SSE:ACTI) |
PowderJect Pharmaceuticals plc (UK; LSE:PJP) |
7/3 |
7/6 |
$50 |
PowderJect acquired SBL Vaccin for $50M in stock and cash |
The Althexis Company Inc.* |
Microcide Pharmaceuticals Inc. (MCDE) |
7/30 |
10/25 |
$22 |
Microcide acquired The Althexis Company by issuing about 5.3M shares for all outstanding shares of Althexis; the deal is valued at $22.22M; the merged company is called Essential Therapeutics Inc., and will trade on Nasdaq under the symbol ETRX |
Viral Genetics Inc.*
|
5 Starliving Online Inc. (OTC BB:HTHV) |
9/19 |
10/3 |
$44 |
5 Starliving acquired Viral Genetics for about 29.7M shares; Viral will become a wholly owned subsidiary of 5 Starliving, and former stockholders will own about 79% of 5 Starliving's outstanding common stock; the deal is valued at $44M; 5 Starliving is changing its name to Viral Genetics Inc. and will trade on the Over the Counter Bulletin Board under the symbol VRAL |
II. PENDING MERGERS AND ACQUISITIONS | |||||
Company To Be Acquired (Country; Symbol) |
Acquiring Company (Country; Symbol) |
Date Announced |
Expected Completion |
Value (M)*** |
Terms/Details |
Biopool hemostasis division of Xtrana Inc. (XTRN) |
Trinity Biotech plc (Ireland; TRIB) |
11/14** |
ND |
US$6.25 |
Trinity said it is acquiring the assets and goodwill of the Biopool hemostasis division of Xtrana in a US$6.25M cash deal, comprising a US$3.6M payment up-front and additional payments over 36 months |
Biosonix Ltd. (Israel)* |
Neoprobe Corp. (OTC BB:NEOP) |
9/7 |
4Q:01 |
$5.2 |
Neoprobe entered into a memorandum of understanding to acquire all of the outstanding shares of Biosonix, issuing about 11.8M shares, valuing the deal at about $5.2M |
Cartesian Technologies Inc.* |
Genomic Solutions Inc. (GNSL) |
9/7 |
4Q:01 |
$16 |
Genomic Solutions plans to acquire Cartesian by issuing 6.8M shares and spending $2.5M in cash |
Corporate Technology Development Inc.* |
Endorex Corp. (AMEX:DOR) |
8/1 |
4Q:01 |
$10.6 |
Endorex plans to acquire all the outstanding capital stock of CTD in a stock-for-stock merger; Endorex will issue about 9.4M shares |
Eos Biotechnology Inc.* |
Pharmacopeia Inc. (PCOP) |
8/22 |
4Q:01 |
$197 |
Pharmacopeia will issue 10M new shares to buy Eos and assume options for an additional 600,000 shares; Pharmacopeia also will absorb Eos' $44M cash position |
Genomica Corp. (GNOM) |
Exelixis Inc. (EXEL) |
11/19 |
4Q:01 |
$110 |
Exelixis plans to buy Genomica for $110M in a stock-for-stock transaction; Genomica will become a wholly owned subsidiary of Exelixis |
Lifecodes Corp.* |
Orchid BioSciences Inc. (ORCH) |
10/1 |
4Q:01 |
$12.7 |
Orchid plans to acquire Lifecodes by issuing about 6.5M shares; the deal is valued at $12.7M |
Point Therapeutics Inc.* |
HMSR Inc. (OTC BB:HMSR) |
11/15 |
1Q:02 |
ND |
HMSR plans to merge with Point Therapeutics with each outstanding share of Point being converted into the right to receive about 37.4 shares of HMSR common stock; Point will become a wholly owned subsidiary of HMSR |
The Intergen Co.* |
Serologicals Corp. (SERO) |
11/6 |
4Q:01 |
$45 |
Serologicals plans to acquire The Intergen Co. for $45M in cash, less the amount necessary to complete the expansion of Intergen's Toronto manufacturing facility (11/6) |
Vysis Inc. (VYSI) |
Abbott Laboratories (NYSE:ABT) |
10/24 |
4Q:01 |
$355 |
Abbott plans to acquire Vysis in a cash tender offer worth about $355M |
III. TERMINATED MERGERS AND ACQUISITIONS | |||||
Company To Be Acquired** (Country; Symbol) |
Acquiring Company (Country; Symbol) |
Date Announced |
Termination Date |
Value (M)*** |
Terms/Details |
Advanced Photonix Inc. subsidiary (AMEX:API) |
Jenner Biotherapies Inc.* |
9/28 |
11/5 |
$20 |
Companies terminated the agreement; Jenner stockholders were to receive about 70% of the combined company |
Intermed 2000 Inc. (Israel)* |
Endovasc Ltd. Inc. (OTC BB:ENDV) |
7/10 |
10/19 |
ND |
Endovasc was going to acquire Intermed for Endovasc common stock, but negotiations stopped in October |
Cytomatrix LLC* |
Select Therapeutics Inc. (AMEX:XZL) |
8/30 |
11/2 |
ND |
Select planned to acquire Cytomatrix in a tax-free exchange of shares from Feb. 1, 2002, to July 31, 2002; the companies terminated their plans, as well as their joint venture |
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. It does not include acquisitions of single products or of manufacturing facilities and plants. The chart may include some mergers and acquisitions that occurred before Sept. 28, but were not listed in the previous chart. | |||||
For those deals that are pending, and for which the acquiring company is issuing stock, the value of the transaction has been calculated based on the closing price on the day prior to the first announcement. For those deals that have been completed, and for which the acquiring company is issuing stock, the final value has been calculated based on the closing price on the date that the merger's completion was announced. | |||||
ND = Not disclosed, reported and/or available; unless otherwise indicated, shares are traded on Nasdaq; AMEX = American Stock Exchange; LSE = London Stock Exchange; NYSE = New York Stock Exchange; OTC BB = Over the Counter Bulletin Board; SSE = Stockholm Stock Exchange. | |||||
* 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. |