What You Should Know:
– AstraZeneca has announced the acquisition of Icosavax, a biopharmaceutical company developing a promising vaccine targeting both RSV and hMPV, for a total of up to $1.1 billion.
– This acquisition strengthens AstraZeneca’s respiratory pipeline and aligns with their strategy of addressing high unmet needs in infectious diseases.
Building on Expertise in RSV Prevention
Icosavax’s lead program, IVX-A12, is a Phase III-ready vaccine candidate targeting both respiratory syncytial virus (RSV) and human metapneumovirus (hMPV). These viruses are leading causes of severe respiratory infections and hospitalizations in older adults and individuals with chronic conditions.
Icosavax’s proprietary protein VLP platform technology holds promise for developing highly differentiated vaccines. VLPs are designed to mimic the structure of viruses, potentially inducing a stronger and more durable immune response compared to traditional vaccines.
Financial Details
AstraZeneca will acquire all outstanding Icosavax shares for $15.00 per share in cash, representing a 43% premium to Icosavax’s closing market price. A contingent value right of up to $5.00 per share is payable upon achieving specific milestones. The total transaction value could reach $1.1B, representing a 91% premium to Icosavax’s closing market price. The deal is expected to close in the first quarter of 2024.
“We believe this acquisition offers the opportunity to accelerate and expand access to our potential first-in-class combination vaccine for older adults at risk of RSV and hMPV. We look forward to combining our expertise with AstraZeneca’s experience and resources,” said Adam Simpson, Chief Executive Officer, Icosavax.
