Pharmaceuticals Acquisitions in California

BioSelective Capital Investments, together with Shayan Enterprises, LLC, acquired BioDuro’s drug product development and manufacturing operations in Irvine, California and formed Forma Life Sciences, Inc. The transaction transfers two U.S.-based oral solid dosage development and manufacturing facilities (≈65,000 sq ft and ≈40,000 sq ft) to the new Delaware-held company; BioDuro (an Advent portfolio company) sold the assets.

Fagron has completed the acquisition of University Compounding Pharmacy (UCP), a San Diego–based 503A compounding pharmacy focused on hormone and urology therapies. The transaction values UCP at approximately $41.5 million; UCP generates roughly $25 million of annual revenue. Fagron said the purchase supports its strategy to build a nationwide U.S. compounding platform (complementary to Anazao) and strengthens its presence in California.

Fagron NV has completed the acquisition of University Compounding Pharmacy (UCP), a San Diego–based 503A compounding pharmacy focused on health and wellness, hormones and urology. The transaction has an enterprise value of approximately $41.5 million; UCP had annual revenues of around $25 million and will be integrated to strengthen Fagron's U.S. compounding platform alongside Anazao, with synergies expected over 18–24 months.

PAI Pharma, an Olympus Partners portfolio company, has acquired Nivagen Pharmaceuticals to add a newly built aseptic sterile-injectable manufacturing facility in Sacramento, California and a pipeline of more than 20 ready-to-use (RTU) injectable products. The add-on expands PAI's sterile injectable capabilities alongside its oral liquid franchise to better serve hospitals and health systems and strengthen U.S. pharmaceutical supply-chain resilience; financial terms were not disclosed.

CarePartners Pharmacy, a national specialty infusion pharmacy based in Libertyville, Illinois, has acquired National Drug Wholesale (NDW), a Santa Clara, California–based pharmaceutical wholesaler and distributor. The deal expands CarePartners’ specialty distribution capabilities, strengthens its biosimilar supply chain and licensing footprint, and supports its payer- and manufacturer-focused cost-containment programs.

Hims & Hers Health, Inc. has acquired a US-based peptide manufacturing facility in California to further verticalize its supply chain and expand domestic capabilities for personalized medications. The acquisition, which closed in early February, strengthens Hims & Hers’ ability to meet growing consumer demand for personalized healthcare and peptide-based treatments.

Organon has acquired Dermavant Sciences Ltd. from Roivant in a transaction that adds VTAMA (tapinarof) cream, 1% — a FDA‑approved, non‑steroidal topical for plaque psoriasis — to Organon’s dermatology portfolio. The deal is valued at up to approximately $1.2 billion (including $175 million upfront, additional regulatory and commercial milestones, and tiered royalties) and is intended to expand Organon’s dermatology capabilities and global commercial reach.

Hims & Hers has acquired MedisourceRx, the FDA-registered 503B outsourcing facility and business unit of Nivagen Pharmaceuticals. Bourne Partners served as exclusive financial adviser to Nivagen; proceeds from the sale will allow Nivagen to complete a sterile injectables facility in California and advance its pipeline.

Murphy Canyon Acquisition Corp. (MURF) completed its previously announced business combination with Conduit Pharmaceuticals Limited, resulting in the combined company trading on Nasdaq under the ticker CDT and a pro forma enterprise value of approximately $720 million. A single institutional investor purchased $20.0 million of MURF units in a private placement, and the combined transaction and offering provided Conduit with roughly $20 million of cash (after redemptions, before transaction expenses).

Shionogi Inc., the U.S. subsidiary of Shionogi & Co., Ltd., entered into a definitive agreement to acquire San Diego-based clinical-stage antimicrobial developer Qpex Biopharma, Inc. The acquisition (upfront $100 million plus up to $40 million in milestones) brings Qpex's investigational beta-lactamase inhibitor xeruborbactam and expands Shionogi's infectious disease R&D capabilities and pipeline.

Audax Private Equity has made a growth investment in Pyramid Laboratories, Inc., a Costa Mesa, California-based CDMO that provides formulation development, analytical/stability testing, and aseptic fill-finish manufacturing for large-molecule biologics. The capital will support planned facility expansions to increase vial-filling capacity by more than 30% and syringe filling by more than 50%, and to scale Pyramid's clinical and commercial biologics manufacturing and service operations.

Merck has agreed to acquire clinical-stage biopharmaceutical company Imago BioSciences for $36.00 per share, representing an approximate equity value of $1.35 billion. The acquisition adds Imago's lead LSD1 inhibitor bomedemstat to Merck's hematology pipeline and is expected to close after a tender offer and customary regulatory clearances in early 2023.

Indivior PLC will acquire Opiant Pharmaceuticals, Inc. for $20.00 per share in cash (approximately $145 million aggregate) plus up to $8.00 per share in contingent value rights tied to OPNT003 revenue milestones. The acquisition strengthens Indivior's addiction-treatment portfolio by adding Opiant's OPNT003 intranasal opioid overdose candidate and earlier-stage pipeline assets, and is expected to be accretive after the second full year of OPNT003 launch.

Mirum Pharmaceuticals, Inc. (Nasdaq: MIRM) acquired San Diego-based Satiogen Pharmaceuticals, obtaining Satiogen-owned IP and licensing payments related to LIVMARLI (maralixibat) and volixibat. The deal, funded via Mirum stock and roughly $2.8 million in cash, reduces Mirum's royalty obligations and consolidates the economics of its commercial and pipeline programs.

UCB (Euronext: UCB) has agreed to acquire Zogenix, Inc. (NASDAQ: ZGNX) in a cash tender offer valuing the deal at up to approximately US$1.9 billion, consisting of US$26.00 per share in cash plus a contingent value right of up to US$2.00 per share tied to regulatory milestones. The acquisition adds Zogenix's FINTEPLA (fenfluramine) — an approved treatment for seizures associated with Dravet syndrome and under review for Lennox-Gastaut syndrome — to UCB's neurology and rare disease portfolio and is expected to expand UCB's epilepsy pipeline and global commercial reach.

Element Materials Technology acquired Nanosyn, a San Francisco Bay Area-based contract development and manufacturing organization (CDMO) focused on drug discovery and small-batch API manufacturing, to strengthen Element’s pharmaceuticals and biopharmaceutical services in North America. Nanosyn operates three Bay Area facilities and has a team of more than 75 scientists, and the deal expands Element’s end-to-end life sciences capabilities from discovery through clinical development and regulatory support.

Supernus Pharmaceuticals agreed to acquire Adamas Pharmaceuticals in a cash tender offer valued at approximately $400 million upfront plus up to $50 million in contingent value rights, for total consideration of about $450 million. The acquisition gives Supernus two marketed CNS products (GOCOVRI and Osmolex ER), diversifies its Parkinson’s disease portfolio and is expected to be accretive with material synergies in 2022.

Hikma Pharmaceuticals has agreed to acquire Custopharm Inc., a US-based generic sterile injectables company, from Water Street Healthcare Partners for an initial $375 million plus up to $50 million in contingent consideration. The acquisition adds Custopharm's 13 approved products, R&D capabilities and pipeline to Hikma's injectables franchise and is expected to be accretive to Hikma's Injectables operating margin.

Recro Pharma (NASDAQ: REPH) acquired San Diego–based CDMO IRISYS for approximately $49.85 million in cash, stock and a seller promissory note, transforming Recro into a bi‑coastal, full‑service CDMO. The acquisition expands Recro's capabilities (including aseptic fill/finish and lyophilization), diversifies its client base and adds near‑term revenue and backlog.

Pace Analytical Life Sciences, a CDMO subsidiary of Pace Analytical Services (itself a portfolio company of Aurora Capital Partners), has acquired Drug Delivery Experts, LLC, a San Diego-based CDMO specializing in complex injectable formulations and drug‑device combination product development. The acquisition expands Pace’s injectable and long‑acting/extended‑release capabilities and brings DDE’s scientific leadership into Pace’s west‑coast operations as DDE transitions to the Pace brand.

BioVie Inc. acquired the biopharmaceutical assets of privately held NeurMedix, including NE3107, an orally administered small-molecule inhibitor targeting neuroinflammation and insulin resistance. The deal paid NeurMedix shareholders newly issued BioVie shares and cash at closing, with additional contingent cash and equity payments tied to clinical and regulatory milestones; the acquisition expands BioVie's pipeline into neurodegenerative diseases and oncology.

CoreRx, Inc. has acquired Nucleo Life Sciences, a boutique CDMO based in San Rafael, California, expanding CoreRx’s US West Coast development presence and formulation capabilities. The deal, supported by CoreRx’s majority owner NovaQuest Private Equity and other shareholders, will integrate Nucleo’s Fast-to-Clinic formulation expertise (including spray-dried dispersions and NucleLoad) into CoreRx’s development and manufacturing platform.

Pfizer’s Hospital Business acquired Arixa Pharmaceuticals to advance development of Arixa’s lead oral prodrug ARX-1796, a potential oral beta-lactamase inhibitor + antibiotic combination. Financial terms were not disclosed; Arixa was a virtual, asset-light company based in Palo Alto and was advised by Four Oaks Partners on the transaction.

Nestlé Health Science (NHSc), via a Nestlé S.A. acquisition subsidiary (Société des Produits Nestlé S.A.), agreed to acquire Aimmune Therapeutics for USD34.50 per share in cash, valuing the company at approximately USD2.6 billion. NHSc already owned ~25.6% of Aimmune; the tender offer is expected to close in Q4 2020 and will expand Nestlé's portfolio with Aimmune's FDA-approved peanut allergy therapy Palforzia.

LGM Pharma has acquired the formulation development and drug product contract manufacturing business of Nexgen Pharma, expanding LGM's CDMO capabilities and U.S.-based manufacturing footprint. Financial support for the transaction was provided by private equity firm New Harbor Capital; Nexgen Pharma sold its pharmaceutical CDMO unit to allow the company to focus on other healthcare segments.

Copenhagen-headquartered Galecto Inc. (a Novo Seeds portfolio company) has merged with San Diego-based PharmAkea, Inc. The combined clinical-stage company will retain the Galecto name, be incorporated in the United States, and combine complementary pipelines in fibrosis and oncology to accelerate development of small-molecule and galectin-targeting therapeutics.