The Anglo-Swedish pharmaceutical giant AstraZeneca purchased worth up to $1,1 billion, Icosavax, the US biopharmaceutical company primarily involved in the development of vaccines against i respiratory viruses. In particular, these are differentiated and high-potential vaccines that use an innovative platform of virus-like protein particles (VLPs), says Astrazeneca.
Offered 15 dollars for each Icosavax share, high prizes
According to the terms of the agreement, AstraZeneca will launch a public offering to acquire all of the outstanding shares of Icosavax for a price of $15,00 per share in cash at closing, equal to a 43% bonus compared to the market closing price of $10,49 on Monday.
Plus there's a right of value non-negotiable quota up to $5,00 per share payable upon reaching one specific goal. If you add the upfront payments and the potential maximum contingent value, if reached, you reach a transaction value of approx 1,1 billions of dollars, equal to one 91% bonus compared to the closing market price of Icosavax on December 11, 2023 and a 130% bonus compared to the 60-day VWAP.
The scientific details
The proposed acquisition will build on AstraZeneca's experience in respiratory syncytial virus (RSV), strengthening AstraZeneca's late-stage pipeline of vaccines and immune therapies with Icosavax's lead investigational vaccine candidate, IVX-A12.
IVX-A12 is a potential vaccine First-in-class protein combination VLP, ready for Phase III, targeting both RSV and human metapneumovirus (hMPV), two of the leading causes of severe respiratory infections and hospitalizations in adults aged 60 and older years and those with chronic conditions such as cardiovascular, renal and respiratory diseases.
“This virus-like particle vaccine technology has the potential to transform prevention against serious infectious diseases, including RSV and hMPV,” he said Iskra Reic, Executive Vice President, Vaccines & Immune Therapies of AstraZeneca. “With the addition of Icosavax's Phase III-ready lead asset to our late-stage pipeline, we will have a differentiated, advanced investigational vaccine and a platform for further development of combination vaccines against respiratory viruses.”
