Ipsen to acquire Epizyme for $1.45/share in cash – Quick Facts


(RTTNews) – French pharmaceutical company Ipsen SA (IPSEY) announced on Monday its agreement to acquire Epizyme, Inc. (EPZM), a company specializing in the supply of new epigenetic therapies.

Under the terms of the agreement, Ipsen, through a subsidiary, will launch a tender offer to acquire Epizyme at a price of $1.45 per share in cash upon closing of the transaction. The initial estimated aggregate consideration would be $247 million plus a contingent value right or CVR per share.

The cash consideration of $1.45 per share represents a premium of approximately 144% to Epizyme’s average closing price of $0.60 over the 30 trading days prior to the announcement of the transaction. The transaction will be entirely financed by Ipsen’s existing cash and credit lines.

The acquisition of Epizyme will immediately provide incremental sales and leverage the US business infrastructure. The acquisition should be moderately dilutive on Ipsen’s core operating income until the end of 2024.

The transaction has been unanimously approved by the boards of directors of Ipsen and Epizyme and is expected to close by the end of the third quarter of 2022, subject to the satisfaction of all closing conditions. Epizyme is a fully integrated, commercial-stage biopharmaceutical company that develops and delivers transformative therapies against novel epigenetic targets for cancer patients.

The primary focus of the acquisition is the lead drug, Tazverik (tazemetostat), a chemotherapy-free EZH2a inhibitor, which obtained accelerated approval from the United States Food and Drug Administration in 2020.

As part of the transaction, Ipsen will also acquire Epizyme’s first-in-class oral SETD2 inhibitor development candidate, EZM0414, which has been granted Fast Track status by the FDA.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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