Biopharmaceutical company Santaris Pharma will be acquired by Roche for a total consideration of up to $450 million, comprised of an upfront cash payment of $250 million and additional contingent payments of up to $200 million based on the achievement of certain predetermined milestones. The acquisition is expected to close in August 2014. Roche plans to maintain Santaris Pharma’s operations in Denmark, where the existing site will be renamed Roche Innovation Center Copenhagen.
Santaris is developing a diverse pipeline of LNA (locked nucleic acid) therapeutics that influence the production or activity of select RNA (ribonucleic acid) targets to address diseases that are difficult to treat with conventional drug modalities. It has racked up over $100 million (€75 million) in venture funding since its founding in 2003, receiving investments from a slew of VC firms including Forbion Capital Partners, Novo A/S, Seventure Partners, Global Life Science Ventures and InnovationsKapital.