IDRx Acquired by GSK for $1.15 Billion
Deal News | Jan 13, 2025 | Goodwin
Goodwin's Public M&A and Life Sciences teams have successfully advised IDRx, Inc. in its deal to be acquired by GSK plc for a total potential consideration of $1.15 billion, comprising a $1 billion upfront payment and up to $150 million in success-based regulatory milestones. This strategic acquisition includes IDRx's lead molecule, IDRX-42, a selective tyrosine kinase inhibitor being developed for the treatment of gastrointestinal stromal tumors (GIST). Additionally, GSK assumes responsibility for tiered royalties for IDRX-42 owed to Merck KGaA. The transaction awaits regulatory clearance under the Hart-Scott-Rodino Act in the US.
Sectors
- Biopharmaceuticals
- Pharmaceuticals
- Mergers and Acquisitions
Geography
- United States – IDRx is a U.S.-based biopharmaceutical company, and the deal is subject to U.S. regulatory clearances.
- United Kingdom – GSK is a UK-based global pharmaceutical company involved in acquiring IDRx.
- Germany – Merck KGaA, headquartered in Darmstadt, Germany, is entitled to royalties from IDRX-42, highlighting a German connection in the transaction.
Industry
- Biopharmaceuticals – The article involves IDRx, a clinical-stage biopharmaceutical company focused on developing precision cancer therapies.
- Pharmaceuticals – GSK, a leading pharmaceutical company, is acquiring IDRx, highlighting the sector's interest in expanding oncology drug portfolios.
- Mergers and Acquisitions – This transaction involves the acquisition of IDRx by GSK, a significant M&A activity in the biotech sector.
Financials
- $1 billion – Upfront payment GSK is making for the acquisition of IDRx.
- $150 million – Potential milestone payment based on regulatory approval.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| IDRx, Inc. | Target Company | Company | A clinical-stage biopharmaceutical company focused on precision cancer therapies. |
| GSK plc | Bidding Company | Company | A major global pharmaceutical company acquiring IDRx. |
| Goodwin | Legal Advisor | Company | Provided legal advice to IDRx in the acquisition process. |
| Merck KGaA | Other Company | Company | Entitled to tiered royalties for IDRX-42 under the terms of the acquisition agreement. |