This news is almost a year old now but it is useful to look at the anatomy of an example Big Pharma buyout transaction.
Information is shared below for discussion and is not investing advice. You are encouraged to conduct your own research and make your own investing decisions.
Anatomy of the Pfizer buyout of Trillium Therapeutics to acquire Pipeline of immuno-oncology candidates for Haematological MalignanciesReferences:
- Initial investment following Phase 1A dose escalation data for Multiple Myeloma (19 patients)
- USD $28M initial investment by Pfizer ~3 months after Phase 1A data presented at ASCO 2020
- Eventual buyout for USD $2.26B
- Buyout premium ~200% to last close and ~118% to 60-day weighted average
- Estimated sales > USD $1.0B (2027) for two lead candidates (analyst estimates)
- https://clinicaltrials.gov/ct2/show/NCT03530683
- https://www.globenewswire.com/fr/ne...s-Annual-Financial-and-Operating-Results.html
- https://www.pfizer.com/news/press-r...tail/pfizer-acquire-trillium-therapeutics-inc
- https://www.fiercebiotech.com/biotech/pfizer-and-trillium-how-a-25m-investment-led-to-a-2-3b-buyout
- https://www.sec.gov/Archives/edgar/data/1616212/000110465921115137/tm2127203-1_prem14a.htm
- https://www.pharmaceutical-technology.com/comment/pfizer-trillium-therapeutics/
- https://www.evaluate.com/vantage/articles/news/deals/trillium-gets-buyout-while-its-down
- https://www.globenewswire.com/fr/ne...s-Annual-Financial-and-Operating-Results.html
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