IPSEY - Epizyme stock soars 60% as Ipsen set to acquire the cancer drugmaker

France's Ipsen (OTCPK:IPSEY) (OTCPK:IPSEF) is acquiring Cambridge, Mass.-based cancer drug maker Epizyme (NASDAQ:EPZM) for $247M plus contingent value right (CVR). Ipsen will begin an all-cash tender offer to acquire all outstanding shares of Epizyme (EPZM) for $1.45/share plus a CVR of $1 per share. Ipsen has taken the M&A route to bolster its pipeline. The company said that its strategic focus is on building a high-value and sustainable pipeline through external innovation. Ipsen said the deal will strengthen its oncology presence and leverage its infrastructure. Ipsen added that the main focus of the acquisition is on Epizyme's lead drug Tazverik, which is approved in the U.S. to treat certain patients with follicular lymphoma (FL). Tazverik is currently in a phase 3 confirmatory study (SYMPHONY-1) in combination with rituximab (sold as Rituxan by Roche and Biogen) and lenalidomide (marketed as Revlimid  by Bristol-Myers Squibb) in patients with relapsed/refractory FL who have received at least one prior therapy. Ipsen will

For further details see:

Epizyme stock soars 60% as Ipsen set to acquire the cancer drugmaker