Helix BioPharma Expands Portfolio with Acquisition of LR 09
Deal News | Nov 29, 2024 | EIN
Helix BioPharma Corp., a clinical-stage biopharmaceutical company, has entered into an asset purchase agreement to acquire LR 09 from Swiss-based Laevoroc Immunology AG. The acquisition includes intellectual property, inventory, and rights related to LR 09, a novel oral immune checkpoint inhibitor targeting leukemia, which holds Orphan Drug Designation from the US FDA. This transaction signifies a strategic addition to Helix's immune-oncology pipeline, aiming to address unmet needs in leukemia treatment. The deal, expected to close by January 2025, involves issuing 16.5% of Helix's common shares to Laevoroc. The transaction awaits Toronto Stock Exchange approval and aligns with Helix's strategies to enhance shareholder value through targeted expansion and development in oncology therapeutics.
Sectors
- Biopharmaceuticals
- Healthcare
Geography
- Canada – Helix BioPharma Corp. is based in Toronto, Ontario, Canada, which is relevant to the corporate activities and market approvals discussed.
- Switzerland – Laevoroc Immunology, the company from which Helix is acquiring assets, is based in Switzerland.
Industry
- Biopharmaceuticals – The article involves Helix BioPharma, a clinical-stage biopharmaceutical company, emphasizing developments in oncology treatments.
- Healthcare – The focus on acquiring a treatment for leukemia, a critical healthcare issue, positions this within the healthcare sector.
Financials
- 16.5% – Percentage of Helix BioPharma's issued and outstanding shares to be issued to Laevoroc Immunology in the transaction.
- 8,088,553 shares – The number of Helix BioPharma shares that would be issued based on current outstanding shares if the transaction closed immediately.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Helix BioPharma Corp. | Bidding Company | Company | A clinical-stage biopharmaceutical company focused on immune-oncology therapies. |
| Laevoroc Immunology AG | Target Company | Company | A privately-held Swiss company specializing in immune-oncology and the developer of LR 09. |
| Jacek Antas | CEO | Person | CEO of Helix BioPharma, overseeing the strategic acquisition of LR 09. |
| US Food and Drug Administration (FDA) | Regulatory Body | Government | Granted Orphan Drug Designation to LR 09, a central feature of the acquired assets. |