2023-05-10 03:32:11 ET
Swedish Orphan Biovitrum AB or SOBI, a global healthcare leader in hematology, immunology and specialty care, will acquire CTI BioPharma ( NASDAQ: CTIC ) for $9.10 per share in an all-cash transaction.
This represents an implied equity value of ~$1.7B.
The transaction will diversify Sobi's portfolio of leading hematology medicines through CTI's lead product, VONJO (pacritinib), which is FDA-approved for the treatment of adult myelofibrosis patients with a platelet count below 50 x10 9 /L.
Sobi, through a wholly owned, indirect subsidiary, will commence a tender offer to acquire all outstanding shares of CTI for $9.10 per share in cash.
The transaction price represents an 89% premium to CTI's closing share price on May 9, 2023, as well as a 95% premium to its 30 trading day VWAP of $4.67.
The transaction is expected to close in Q3 2023.
For further details see:
Swedish Orphan Biovitrum Ab to acquire CTI BioPharma for $9.10 per share