Pfizer agrees to acquire portfolio company Metsera
IBT notes the announcement this morning regarding Pfizer and Metsera's definitive agreement under which Pfizer will acquire Metsera, a clinical-stage biopharmaceutical company accelerating the next generation of medicines for obesity and cardiometabolic diseases, for
In aggregate, this offer represents up to a 110% premium on Metsera's closing share price of
Commenting on the news,
"This 31st M&A deal for a holding in our portfolio since 2020 reinforces why identifying potential acquisition targets is a core part of our investment strategy: Biotech M&A continues to be an attractive route for large pharmaceutical companies to replenish their patent expiry pipelines in the coming years. Pfizer's agreement to acquire Metsera highlights big pharma's ongoing enthusiasm for obesity related therapies as a key theme driving returns for biotech investors."
The updated valuation of IBT's holding in Metsera will be included in IBT's NAV as at close of business today, to be reported in the usual way tomorrow morning, 23 September.
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