BY Fraser Tennant
In a deal that enhances its portfolio in cardiovascular, renal and metabolic diseases (CVRM), Swiss biopharmaceutical and diagnostic company Roche is to acquire UD drugmaker 89bio for $3.5bn.
Under the terms of the definitive agreement, Roche will acquire all of the outstanding shares of 89bio common stock at a price of $14.50 per share in cash at closing, plus a non-tradeable contingent value right to receive certain milestone payments of up to an aggregate of $6.00 per share in cash.
The combination underscores Roche’s dedication to advancing innovative therapies in CVRM diseases, especially for patients affected by overweight, obesity and related health challenges such as moderate to severe metabolic dysfunction-associated steatohepatitis (MASH).
In acquiring 89bio, including its lead CVRM treatment pegozafermin, Roche is fostering its activities to build a robust and differentiated pipeline that targets additional causes of metabolic disease.
“This acquisition further strengthens our portfolio in cardiovascular, renal and metabolic diseases and offers opportunities to explore combinations with existing programmes in our pipeline,” said Thomas Schinecker, chief executive of the Roche Group. “We are highly encouraged by pegozafermin’s potential to become a transformative treatment option in MASH, one of the most prevalent comorbidities of obesity, and to meet diverse patient needs associated with this complex disease.”
The merger agreement has been unanimously approved by the boards of directors of Roche and 89bio.
“Our mission at 89bio has always been to develop innovative therapies to help patients with serious liver and cardiometabolic diseases,” said Rohan Palekar, chief executive of 89bio. “We are thrilled to be joining with Roche to combine the promise of pegozafermin with Roche’s established global development, manufacturing and commercialisation capabilities, to accelerate and maximise potential benefit for patients in need and unlock significant shareholder value.”
The transaction is expected to close in the fourth quarter of 2025. It is subject to customary closing conditions, including the tender of at least a majority of the outstanding shares of 89bio’s common stock and the expiration or termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976.
Boris L. Zaïtra, head of corporate business development at Roche, concluded: “We are excited about this agreement and to further develop this promising therapy, which we hope will provide people with moderate to severe MASH a new treatment option.”
News: Roche to acquire liver drug developer 89bio for up to $3.5 billion