GHO, Ampersand to take Avid Bioservices private
BioCentury’s Deals report also includes Karalis’s public path via AlloVir reverse merger, and updates from Oblenio-Leads, Daiichi-Alteogen and Acadia
Biologics CDMO Avid Bioservices Inc. (NASDAQ:CDMO) will become a private company following acquisition by GHO Capital Partners and Ampersand Capital Partners for $12.50 per share in an all-cash transaction representing a 13.8% premium to Avid’s closing price the day before the deal was announced. The company said that the transaction equates to an enterprise value of about $1.1 billion, which is 6.3 times its estimated 2025 fiscal year revenue. The deal is expected to close in 1Q25, after which Avid’s stock will no longer be listed.
Samsara-backed Kalaris Therapeutics Inc. has found a path to the public market via a reverse merger with AlloVir Inc. (NASDAQ:ALVR). The combined company will develop TH103, an anti-VEGF therapy, now in Phase I testing to treat neovascular age-related macular degeneration. TH103 showed longer-acting and increased anti-VEGF activity than marketed therapy Eylea aflibercept in head-to-head preclinical testing, Kalaris said. ...