Mass. biotechs ripe for buyouts

Fri, 25 Apr 2008 06:59:54 -0400

Recently, GSK forked over $720 million for Sirtris Pharmaceuticals and Japan's Takeda made an $8.8 billion bid for Millennium Pharmaceuticals. And the Boston Business Journal wonders which Massachusetts-based company is next on the buyout hit-list?

Cubist Pharmaceuticals, Epix Pharmaceuticals and Alynlam Pharmaceuticals, to name a few. Biogen Idec could be an acquisition target for a large biotech. According to MassBIO, 189 of the state's companies have drugs in Phase II, and another 69 have Phase III drug in the works. As one investment banker observes, up to three dozen Massachusetts drug developers could be up for grabs.

- see the Boston Business Journal report

GSK buys Sirtris for $720M

Wed, 23 Apr 2008 06:59:58 -0400

GlaxoSmithKline is acquiring Cambridge, MA-based Sirtris Pharmaceuticals for $720 million. GSK will pay $22.50 per share for the company--an 84 percent premium to Sirtris's closing price Tuesday. GSK says that the buyout will boost its metabolic, neurology, immunology and inflammation research efforts by establishing a presence in the field of sirtuins--a class of enzymes that may be involved in the aging process.

Sirtris has grabbed headlines for it work in the field of aging. Earlier this year the company presented positive, early-stage data for its closely-watched therapy based on resveratrol, an ingredient in red wine that has been linked to increased longevity. In a small diabetes trial the drug delivered positive safety data and demonstrated its ability to cut blood glucose levels.

"Modulation of this family of enzymes is a potentially transformative science that could address diseases associated with metabolism and aging such as diabetes, muscle wasting, and neurodegeneration," commented Moncef Slaoui, Chairman GSK R&D. "This acquisition continues GSK's strategy of pursuing the best new science, externally or internally, to bring new medicines to patients and value to the GSK pipeline." Sirtris will remain an autonomous unit. Sirtris was a 2007 Fierce 15 company.

- see GlaxoSmithKline's release
- read this Wall Street Journal report for more

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