The Berke Report: M&A Updates for the First Week of May 2023

Magenta Therapeutics And Dianthus Therapeutics Announce Merger Agreement (PR)

Merger to create Nasdaq-listed, clinical-stage biotechnology company focused on advancing Dianthus’ portfolio of next-generation antibody complement therapeutics. Combined company is expected to have approximately $180 million of cash or cash equivalents at close, including approximately $70 million from a concurrent private financing by Dianthus’ new and existing investors, which is expected to provide funding into mid-2026. Cash expected to fund lead program DNTH103 through multiple clinical data catalysts including Phase 1 in healthy volunteers, and Phase 2

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Eterna Therapeutics Acquires Exacis’ Allogeneic Immuno-Oncology Platform (genengnews)

Eterna Therapeutics acquired the global immuno-oncology platform of Exacis Biotherapeutics. Eterna officials say the acquisition complements the company’s core business with a pipeline of allogeneic immuno-oncology products under development for the treatment of hematologic and solid tumors. The deal also provides Eterna with an exclusive global license to produce an unlimited number of mRNA-engineered natural killer (NK) and T-cell therapies derived from induced pluripotent stem cells (iPSCs).

Eyeing Its Next Blockbuster, Astellas Lines Up $5.9B Iveric Bio Acquisition (medcitynews)

Under terms of the deal announced Sunday evening, Tokyo-based Astellas will pay $40 cash for each share of Iveric. That price represents a 21.6% premium to the stock’s closing price on Friday. But the biotech’s share had already been on a steady climb since mid-February when FDA approval of a rival drug provided validation for Iveric’s approach. The agency that month also accepted Iveric’s new drug application, setting an August 19 target date for a decision on the biotech’s drug, avacincaptad pegol.