Roche signs agreement to acquire 89bio in $2.4bn deal
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Roche has signed a definitive merger agreement for the acquisition of clinical-stage biopharmaceutical company 89bio, for a total equity value of around $2.4bn. Under the deal, Roche will initiate a tender offer to purchase all outstanding shares of 89bio common stock at $14.50 per share in cash.
Roche Group CEO Thomas Schinecker said: “This acquisition further strengthens our portfolio in cardiovascular, renal, and metabolic diseases and offers opportunities to explore combinations with existing programmes in our pipeline.
“We are highly encouraged by pegozafermin’s potential to become a transformative treatment option in MASH, one of the most prevalent comorbidities of obesity, and to meet diverse patient needs associated with this complex disease. “With its combined anti-fibrotic and anti-inflammatory mechanism, pegozafermin could potentially offer best-in-disease efficacy for all moderate to severe MASH patients.” Pegozafermin is a glycoPEGylated fibroblast growth factor 21 (FGF21) analogue currently in Phase III clinical trials for patients with moderate and severe MASH fibrosis (F2 and F3 stages) and cirrhosis (F4 stage). The drug is designed to combine anti-fibrotic and anti-inflammatory activity with a favourable safety profile. Roche plans to integrate the candidate into its cardiovascular, renal and metabolic (CVRM) portfolio and explore combination development with incretins.
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