Marinus Set for Acquisition by Immedica for $151 Million
Deal News | Dec 30, 2024 | MTS Health Partners LP
Immedica Pharma AB, a global rare disease company, has announced an agreement to acquire Marinus Pharmaceuticals, a company focused on innovative therapeutics for seizure disorders. The acquisition, which involves a cash tender offer of approximately $151 million, represents a strategic move for Immedica, allowing it to add ZTALMY, a neuroactive steroid approved for treating seizures associated with CDKL5 deficiency disorder, to its portfolio. This acquisition will accelerate Immedica's growth into the North American market, enhance their rare disease product line, and increase their revenue. The transaction, expected to close in the first quarter of 2025, follows Marinus’s strategic alternatives review aimed at maximizing stockholder value. MTS Health Partners LP and Gibson, Dunn & Crutcher LLP act as advisors for Immedica, while Barclays Capital Inc. and Hogan Lovells LLP advise Marinus.
Sectors
- Pharmaceuticals
- Healthcare
Geography
- United States – Marinus Pharmaceuticals is based in the United States and the acquisition expands Immedica's presence in the North American market.
- Sweden – Immedica is headquartered in Stockholm, Sweden, which plays a role in the international expansion discussed in the acquisition.
Industry
- Pharmaceuticals – The article discusses the acquisition of Marinus Pharmaceuticals by Immedica, both operating in the pharmaceutical industry focusing on rare and seizure-related disorders.
- Healthcare – Both companies are involved in the healthcare sector, specifically in developing and commercializing treatments for rare diseases and seizure disorders.
Financials
- USD 151 Million – Implied enterprise value for the acquisition of Marinus by Immedica.
- USD 0.55 per share – Cash purchase price offered by Immedica for each share of Marinus common stock.
- 48% – Premium based on Marinus closing share price as of December 27.
- 97% – Premium based on the 30-day volume-weighted average price of USD 0.28 per share preceding the announcement of the transaction.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Marinus Pharmaceuticals, Inc. | Target Company | Company | A commercial-stage pharmaceutical company focused on seizure disorders, known for developing ZTALMY. |
| Immedica Pharma AB | Bidding Company | Company | A Swedish pharmaceutical company specializing in rare diseases, acquiring Marinus to expand its U.S. presence. |
| MTS Health Partners LP | Exclusive Financial Advisor to Immedica | Company | A company providing financial advisory services, acting as Immedica's advisor for this transaction. |
| Gibson, Dunn & Crutcher LLP | Legal Counsel to Immedica | Company | Provides legal services to Immedica in connection with the acquisition. |
| Fuchs Patentanwälte Partnerschaft mbB | Intellectual Property Counsel to Immedica | Company | Acts as intellectual property counsel for Immedica regarding the transaction. |
| Barclays Capital Inc. | Exclusive Financial Advisor to Marinus | Company | Acting as the financial advisor to Marinus for the transaction. |
| Hogan Lovells LLP | Legal Counsel to Marinus | Company | Provides legal services to Marinus for this acquisition. |