Sosei Acquires Heptares Therapeutics for up to USD 400 million

Combination Creates a Leading Global Biopharmaceutical Company with a Major Drug Discovery and Development Hub in the UK

24-Feb-2015 - United Kingdom

Sosei Group Corporation announces that it has acquired Heptares Therapeutics Limited. Sosei has acquired 100% of Heptares’ share capital for USD 180 million in cash consideration and up to USD 220 million contingent upon the successful progression of the company’s pipeline and platform.

The Group will continue to be led by Shinichi Tamura as Chairman and CEO.  Dr Malcolm Weir, Heptares co-founder and CEO, will remain as CEO of Heptares, which will be managed as an autonomous subsidiary of the Group. Dr Weir will also join the enlarged Group as Chief R&D Officer and will be responsible for worldwide research and development outside Japan.  Dr Declan Doogan and Peter Bains, currently serving as non-executive directors on the Group’s main Board, will join the Heptares Board representing the Group’s interest. Dr Fiona Marshall, co-founder of Heptares and CSO, will also join the Heptares Board
 
Shinichi Tamura, Chairman and CEO of Sosei Group Corporation, said: “Today is an historic day for Sosei. Heptares is based on truly world-class science and its drug discovery and development capabilities will contribute to a sustainable stream of new products for the Group. While core to our future, an independent subsidiary structure will ensure Heptares is able to maintain the culture and business model that has been the foundation of its success so far.”

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