AstraZeneca to take majority stake in Acerta Pharma
December 18, 2015
AstraZeneca (NYSE: AZN) has entered into a definitive agreement to acquire a majority stake in Acerta Pharma, portfolio company of BioGeneration Ventures, Frazier Healthcare and OrbiMed. AstraZeneca will acquire 55% of the entire issued share capital of Acerta for an upfront payment of $2.5 billion; a further unconditional payment of $1.5 billion will be paid upon either certain regulatory approvals or the end of 2018. The transaction, which is expected to close by the end of 1Q 2016, provides AstraZeneca with an irreversible oral Bruton's tyrosine kinase inhibitor currently in Phase III development for B-cell blood cancers and in Phase I/II clinical trials in multiple solid tumors.