Swedish Orphan Biovitrum Closes Acquisition of Dova Pharmaceuticals.


14 November 2019 - Swedish drugmaker Swedish Orphan Biovitrum AB's (Sobi) (STO: SOBI) indirect wholly owned subsidiary Dragonfly Acquisition Corp. has closed the acquisition of US-based rare disease specialist Dova Pharmaceuticals, Inc. (NASDAQ: DOVA) for 27.50 per share, the company said.

In late September, Sobi announced a definitive agreement to acquire Dova in a deal valued at up to USD 915m.

The conditions to the tender offer were satisfied, and Sobi and Dragonfly have accepted for payment and will promptly pay the depositary for all validly tendered shares.

Upon completion of the merger, Dova will become an indirect wholly owned subsidiary of Sobi. Shortly after the completion of the merger, Dova's common stock will no longer be listed on the NASDAQ Global Market.

On November 12, 2019, Sobi intends to file with the US Securities and Exchange Commission an amendment to the tender offer statement on Schedule TO which sets forth the final results of the tender offer.

American Stock Transfer and Trust Company, LLC is acting as depositary for the tender offer.

Sobi is a specialised international biopharmaceutical company transforming the lives of people with rare diseases.

Sobi is providing sustainable access to innovative therapies in the areas of haematology, immunology and specialty indications.

Currently, Sobi employs approximately 1,300 people across Europe, North America, the Middle East, Russia and North Africa. In 2018, Sobi's revenues amounted to SEK 9.1bn.

Dova Pharmaceuticals was founded in 2016 to commercialise Doptelet (avatrombopag) for the treatment of thrombocytopenia.

Dova Pharmaceuticals' portfolio comprises of one commercial product, Doptelet. Doptelet is an oral thrombopoietin receptor agonist administered with food.

Doptelet is approved by both the United States Food and Drug Administration...

To continue reading

Request your trial

VLEX uses login cookies to provide you with a better browsing experience. If you click on 'Accept' or continue browsing this site we consider that you accept our cookie policy. ACCEPT