Merz Enters Asset Purchase Agreement With a US-Based Biotech Company
Merz Therapeutics, a business of Frankfurt-based Merz Group, has entered into an Asset Purchase Agreement to acquire two commercial medicines from NASDAQ-listed Acorda Therapeutics. Closing of the transaction would significantly contribute to the accelerated growth strategy of Merz Therapeutics.
“Our specialty-neurology focused business Merz Therapeutics has developed very well in recent years. This investment would add significantly to Merz Therapeutics growth strategy and expand our portfolio in the field of movement disorders and neurodegeneration. In addition, it will strengthen the market position in North America” says Jörg Bergler, COO of the Merz Group. "We are excited about the development of Merz Therapeutics and are convinced that the purchase of the two drugs - one for the treatment of OFF phases of Parkinson's disease (PD) and one for the treatment of gait disorders in multiple sclerosis - would be of great value to both physicians and patients."
The acquisition will be processed through a court structured 363 sale process under the U.S. Bankruptcy Code, where Merz Therapeutics will provide the opening in the auction. The purchase price offered by Merz is USD 185 million. The completion of the sale process is expected in June 2024, with any sale subject to court approval.
For the family-owned Merz Group, headquartered in Frankfurt, this investment would be the third transaction in the US in just over 10 years and the second time with a NASDAQ-listed company. "Merz has grown strongly in recent years - organically, but also through strategic acquisitions, especially in North America. We have solid experience in both the acquisition and integration of US companies or products. As a German-based but global company, we are very interested in innovative acquisitions, on a global scale," concludes Jörg Bergler.
Stefan König, CEO of Merz Therapeutics, adds, “As a patient-focused, innovative company we recognize the responsibility of providing continued patient care and support for Acorda’s well-established and innovative therapies and see this as an optimal potential portfolio expansion that underscores our ambition in key therapeutic areas.”
About Merz Group
Merz Group is a global, diversified company in the healthcare sector based in Frankfurt, Germany. Family-owned for over 116 years, the company is distinguished by its commitment to innovation, long-term perspective, and focus on profitable growth. Merz Group includes the businesses Merz Aesthetics, Merz Therapeutics, Merz Consumer Care, Merz Real Estate, and Merz Financial Investments. The company employs 4,337 people (as of the 22/23 financial year) in 28 countries worldwide. To learn more, please visit www.merz.com.
About Merz Therapeutics
Merz Therapeutics GmbH is dedicated to improving the lives of patients around the world. With its relentless research, development, and culture of innovation, Merz Therapeutics strives to serve unmet patient needs and realize better outcomes. Merz Therapeutics seeks to address the unique needs of people who suffer from movement disorders, neurodegenerative conditions, liver disease, and other health conditions that severely impact patients’ quality of life.
Merz Therapeutics is headquartered in Frankfurt am Main, Germany and is represented in more than 90 countries, with a North America affiliate based in Raleigh, North Carolina. Merz Therapeutics GmbH is part of the Merz Group. Please visit www.merztherapeutics.com
To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240401849394/en/
Contact information
Media Contact
Merz Asset Management Holding GmbH & Co. KG
Communications
Karolina Dzeko-Balke
Telephone number: +49 (0) 69 1503 2749
E-mail: karolina.dzeko-balke@merz.de
About Business Wire
For more than 50 years, Business Wire has been the global leader in press release distribution and regulatory disclosure.
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Lineage Announces Closing of Initial Public Offering27.7.2024 00:19:00 EEST | Press release
Lineage, Inc. (the “Company”) (Nasdaq: LINE) today announced the closing of its underwritten initial public offering of 56,882,051 shares of its common stock at a public offering price of $78.00 per share. The net proceeds from the offering were approximately $4.2 billion, after deducting underwriting discounts and commissions and estimated expenses payable by the Company. The Company intends to use the net proceeds received from the offering to repay borrowings outstanding under its delayed draw term loan, repay borrowings outstanding under its revolving credit facility, fund one-time cash grants to certain of its employees in connection with this offering and estimated cash to pay tax withholding obligations associated with stock grants and redeem its Series A preferred stock. Following such uses, the Company expects to use the remaining net proceeds for general corporate purposes, which may include the repayment of additional borrowings outstanding under its revolving credit facilit
Introducing LEDGER FLEX — Easy, Secure Self-Custody, Free From Compromise26.7.2024 18:15:00 EEST | Press release
Ledger, the world leader in Digital Asset security for consumers and enterprises, today launched for sale Ledger Flex, its second new product launch in 2024. Released during Ledger’s tenth anniversary, Ledger Flex and the previously released Ledger Stax mark the inception of a new generation of Ledger hardware, featuring secure E Ink® touchscreen displays powered by Ledger’s Secure OS. Ledger Flex is available to purchase today on Ledger.com and through our retail partners around the world for $249, shipping immediately. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240726882083/en/ Ledger Flex™ (Photo: Business Wire) Ledger Flex marks the new standard for Ledger devices, featuring NFC and a secure E Ink® touchscreen, at an attractive price point. Ledger Flex is an homage to the iconic black and steel motif featured on Ledger devices for a decade, a reminder of Ledger’s heritage of uncompromising security. Its high-resoluti
LambdaTest Unveils Live Inspect for Enhanced App Automation Testing26.7.2024 18:00:00 EEST | Press release
LambdaTest, a leading cloud-based unified testing platform, introduces its latest offering, the Live Inspect feature for app automation testing. This tool empowers developers and testers to optimize their app automation processes with unparalleled live debugging capabilities directly from the LambdaTest automation dashboard. The Live Inspect feature allows users to interact with their automated test devices in real time, enhancing the efficiency and effectiveness of automated tests. With features such as real-time navigation, detailed UI element inspection, and screenshot capture, teams can now troubleshoot issues directly as they arise with their automation scripts, moving beyond mere video playback to active engagement with their applications. LambdaTest’s Live Inspect features include real-time interaction, which allows users to navigate their apps, inspect UI elements, capture screenshots, and generate unique custom xpaths while the automation script runs seamlessly. The enhanced U
Radico Khaitan comes onboard as the Official Partner for the first India House at The Paris 2024 Olympics26.7.2024 16:04:00 EEST | Press release
India House, the inaugural country house for the nation at the Paris 2024 Olympic Games, announces Radico Khaitan as the Official Partner. India House will serve as a home away from home for athletes as well as fans, commemorating 100 years since India first competed at the Olympic Games under the Indian Olympic Association in 1920. Radico Khaitan’s alliance with India House reaffirms the Company’s deep-rooted commitment to India’s growth and its vision to showcase the nation’s rich heritage and luxurious culture to the global audience. With a surge in sporting enthusiasm across India, it becomes imperative to empower our athletes and celebrate their success wherever they compete. Radico Khaitan is dedicated to boosting national morale at the Olympics and championing our athletes on the grand global stage. Through its contributions to India House, Radico Khaitan aims to spotlight India's opulence, culture, and legacy, fostering solidarity and pride among Indians worldwide in support of
Fujirebio Launches the Fully Automated Lumipulse ® G GFAP Assay for Research Use Only and Further Strengthens its Neuro Test Menu26.7.2024 14:00:00 EEST | Press release
H.U. Group Holdings Inc. and its wholly-owned subsidiary Fujirebio today announced the availability of the Lumipulse G GFAP assay for the fully automated, random-access LUMIPULSE® G immunoassay systems. The Research Use Only (RUO) assay is now available in the United States, and it will be available in Japan, Europe and other regions* as of September this year. The Chemiluminescent Enzyme Immunoassay (CLEIA) test allows for the quantitative measurement of glial fibrillary acidic protein (GFAP) in human plasma and serum in just 35 minutes. “In 2023 we already introduced two new important neuro assays for RUO-based detection of Neurofilament Light (NfL) and pTau 217,” said Goki Ishikawa, President and CEO of Fujirebio Holdings, Inc. “We continue our engagement in biomarker-based testing for neurological diseases with the Lumipulse G GFAP, affirming our commitment to play an essential partnering role in both research and clinical routine.” The Lumipulse G GFAP assay will allow the scienti
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom