Revolution Medicines to Acquire EQRx in All-Stock Deal
August 1, 2023
Revolution Medicines (NASDAQ: RVMD) has agreed to acquire EQRx (NASDAQ: EQRX) in an all‑stock transaction that will transfer more than $1 billion in net cash to Revolution’s balance sheet. The deal is intended to strengthen Revolution Medicines’ financial position to accelerate clinical development of its RAS(ON) inhibitor pipeline while EQRx will wind down most of its R&D programs post-closing.
- Buyers
- Revolution Medicines, Inc.
- Targets
- EQRx, Inc.
- Sellers
- EQRx stockholders
- Industry
- Pharmaceuticals
- Location
- Massachusetts, United States
- Transaction Type
- Buyout
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