AstraZeneca plc stated on Tuesday that it will acquire US-based biopharmaceutical firm Icosavaz in a deal valued at approximately $1.1 billion.
Under the terms of the deal, the tender offer will initiate at $15.00 a share, and it also includes a non-negotiable contingent value right of up to $5.00 per share in cash payable upon the achievement of a specified regulatory milestone and a sales milestone.
"We are pleased to announce the proposed acquisition of Icosavax by AstraZeneca as we believe it offers the opportunity to accelerate and expand access to our potential first-in-class combination vaccine for older adults at risk of RSV and hMPV. We look forward to combining our skills and expertise in advancing the development of IVX-A12 with AstraZeneca's decades of experience in RSV, resources, and capabilities in late-stage development," Adam Simpson, Chief Executive Officer of Icosavax, said.
