Oct. 24 Quick Takes: Sumitovant’s $27 per share sweet enough for Myovant
Plus Alpine pivots and updates from Resolve, Imjudo, Syncona and more
Sumitovant Biopharma Inc. and Sumitomo Pharma Co. Ltd. (Tokyo:4506) will acquire the 48% of Myovant Sciences GmbH (NYSE:MYOV) it does not already own for $27 per share — a premium of 10% to Friday’s close of $24.52, and 19% more than the $22.75 offer the Japanese company made three weeks ago. Myovant rose $2.25 (9%) to $26.79 on Monday, ending the session with a market cap of $2.6 billion. Sumitomo agreed to pay $3 billion to acquire Roivant's stakes in five of its “vants” in 2019.
Single cell spatial analysis company Resolve Biosciences GmbH announced a $71 million series B round led by Patient Square Capital, with participation from EDBI, PS Capital, Alafi Capital, NRW.BANK and additional existing investors, bringing its total venture financing to more than $100 million. The company's Molecular Cartography platform, which includes automated and multiplexed single-molecule fluorescence in situ hybridization (FISH) technology to detect individual RNA transcripts with subcellular resolution, has been adopted by at least five medical centers, including the Novo Nordisk Foundation Center at the University of Copenhagen. Patient Square's Laura Furmanski joined Resolve’s board...