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Roche signs agreement to acquire 89bio in $2.4bn deal
89bio89bio(US:ETNB) Yahoo Financeยท2025-09-18 11:16

Core Points - Roche has signed a definitive merger agreement to acquire 89bio for a total equity value of approximately $2.4 billion, with a potential total deal value of up to $3.5 billion [1][2] - The acquisition includes a tender offer to purchase all outstanding shares of 89bio at $14.50 per share in cash, along with a contingent value right (CVR) that could yield payments of up to $6 per share based on specific milestones [1][2] - The deal is expected to close in Q4 2025, pending customary closing conditions and regulatory approvals [2] Company Strategy - Roche aims to strengthen its portfolio in cardiovascular, renal, and metabolic diseases through this acquisition, particularly focusing on the potential of pegozafermin as a transformative treatment for metabolic dysfunction-associated steatohepatitis (MASH) [3][4] - The lead product, pegozafermin, is a fibroblast growth factor 21 (FGF21) analogue currently in late-stage trials for MASH with advanced fibrosis, which could offer best-in-disease efficacy for moderate to severe patients [4][5] Regulatory and Advisory Details - Pegozafermin has received priority medicines (PRIME) status from the European Medicines Agency (EMA) [5] - Citi acted as the financial adviser for Roche, while Sidley Austin served as legal adviser; Moelis & Company and Centerview Partners were financial advisers for 89bio, with Gibson, Dunn & Crutcher as legal adviser [5]