Key Points
Federal Trade Commission (FTC) and Department of Justice Antitrust Division (DOJ) have temporarily suspended discretionary grants of early termination of the waiting period under the Hart-Scott-Rodino (HSR) Antitrust Improvements Act of 1976
The HSR Act requires parties that meet certain transaction size and other tests to file premerger notification forms with both the FTC and DOJ and observe the required waiting period prior to consummating the transaction.
This follows the announcement earlier this week that the HSR minimum transaction size test has decreased from $94 million to $92 million. The new size thresholds will apply to transactions consummated on or after March 4, 2021.
Coherus BioSciences to Receive $50 million Strategic Investment from Immuno-Oncology Partner Junshi Biosciences
REDWOOD CITY, Calif., Feb. 02, 2021 (GLOBE NEWSWIRE) A day after announcing their new immuno-oncology collaboration, Coherus BioSciences, Inc. (Nasdaq: CHRS) (“Coherus”) announced that Shanghai Junshi Biosciences Co., Ltd (HK: 1877; SH: 688180) (“Junshi Biosciences”) intends to make a strategic investment of $50 million in Coherus pursuant to the terms of the definitive stock purchase agreement.
“We view our collaboration with Coherus as a strategic long-term partnership for the development and commercialization of toripalimab and promising PD-1 combination candidates,” said Dr. Ning LI, CEO of Junshi Biosciences. “We wanted to invest in Coherus so we could share our future growth together and mutual success with these programs.”
Press release content from Globe Newswire. The AP news staff was not involved in its creation.
Coherus BioSciences to expand late-stage pipeline to immuno-oncology with in-license of Junshi .
Coherus BioSciences, Inc.February 1, 2021 GMT
- Coherus to pay $150 million upfront for U.S. and Canada rights to toripalimab, an extensively studied, late-stage anti-PD-1 antibody
- First U.S. BLA filing expected this year for nasopharyngeal carcinoma with breakthrough therapy designation
- Options to PD-1 combination agents, TIGIT and IL-2, add long-term growth potential
- Conference call at 8:00 am Eastern Time today
REDWOOD CITY, Calif., Feb. 01, 2021 (GLOBE NEWSWIRE) Coherus BioSciences, Inc. (“Coherus”, Nasdaq: CHRS) today announced a collaboration with Shanghai Junshi Biosciences, Co., Ltd (“Junshi Biosciences”, HKEX: 1877; SSE: 688180) for the development and commercialization of toripalimab, Junshi Biosciences’ anti-PD-1 antibody, in the United States and Canada. U
Share:
$195 million
Transaction expected to accelerate technology roadmap and fuel growth
ATLANTA and NEW YORK, Dec. 24, 2020 (GLOBE NEWSWIRE) PRGX Global, Inc. (NASDAQ:PRGX), a global leader in recovery audit and spend analytics services, and Ardian, a world-leading private investment house, today announced that they have entered into a definitive agreement for Ardian to acquire PRGX. The transaction is led by Ardian s North America Direct Buyouts team.
Under the terms of the agreement, Ardian will pay PRGX shareholders $7.71 per share in cash for each share of PRGX s common stock they hold, which represents a 32.7% premium to the PRGX volume-weighted average price for the 90 trading days preceding the public announcement of the transaction with Ardian. The all-cash transaction, subject to completion, is valued at approximately $195 million. The members of the PRGX Board of Directors are unanimously in favor of the transaction, which was approved at a special meeting of the