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Roche set to acquire Spark Therapeutics in $4.8 billion deal

Published on 25/02/19 at 10:15am

Roche is set to fully acquire gene therapy Spark Therapeutics after entering into a definitive merger agreement, after the Boards of both companies unanimously approved the deal worth $4.8 billion in total equity value on a fully diluted basis.

The deal’s valuation comes at $114.50 per share, representing a premium of 122% based on Spark’s closing price as of 22 February 2019, and includes approximately $500 million of net cash expected at its close.

As agreed in the deal, Roche will now launch a tender offer to pick up all of Spark’s remaining shares of common stock, while Spark’s Board is expected to unanimously recommend that its shareholders tender their shares to Roche.

“As the only biotechnology company that has successfully commercialised a gene therapy for a genetic disease in the US, we have built unmatched competencies in the discovery, development and delivery of genetic medicines. But the needs of patients and families living with genetic diseases are immediate and vast,” said Jeffrey D Marrazzo, Chief Executive Officer of Spark Therapeutics. “With its worldwide reach and extensive resources, Roche will help us accelerate the development of more gene therapies for more patients for more diseases and further expedite our vision of a world where no life is limited by genetic disease.”

Roche CEO Severin Schwan: “Spark Therapeutics’ proven expertise in the entire gene therapy value chain may offer important new opportunities for the treatment of serious diseases. In particular, Spark’s haemophilia A program could become a new therapeutic option for people living with this disease. We are also excited to continue the investments in Spark’s broad product portfolio and commitment to Philadelphia as a centre of excellence.”

Matt Fellows

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