Celgene has agreed to acquire Impact Biomedicines for a multibillion dollar whose total size may reach $7bn, giving an exit to fellow pharmaceutical company Sanofi. This is a record-setting deal in the life-sciences exits involving corporate investors, where other transactions like IPOs seems to have been in decline.
Pharmaceutical company Sanofi is to exit cancer treatment developer Impact Biomedicines, which was acquired by fellow pharmaceutical firm Celgene for $1.1bn up. The transaction is comprised of Celgene paying $1.1bn up front. However, over $6bn more in capital may come contingent on specific milestones: up to $1.4bn more depend on milestones related to approvals for myelofibrosis and other indications, while sales-based milestones could potentially reach $4.5bn.
Founded in 2016, Impact Biomedicines develops therapies for complex cancers based on fedratinib, an…
