Alios BioPharma Announces Acquisition Agreement with Johnson & Johnson
Agreement Provides Opportunity to Accelerate Development of Antiviral Portfolio and Expand Alios Infectious Disease Drug Discovery Platform
South San Francisco, CA - September 30, 2014 - Alios BioPharma, Inc., a biotechnology company developing proprietary therapeutics for viral diseases, today announced a definitive agreement with Johnson & Johnson whereby Alios will be acquired for approximately $1.75 billion in cash payable upon closing of the transaction. The transaction has been approved by the boards of directors of both companies.
“We are so pleased to be joining the Janssen Pharmaceutical Companies of Johnson & Johnson, who have an impressive track record of bringing breakthrough drugs for viral diseases to market,” said Lawrence M. Blatt, PhD, President and Chief Executive Officer of Alios BioPharma. “Our portfolio of novel medications targets a diverse range of viral infections, including respiratory syncytial virus, which complements ongoing efforts by Janssen to develop innovative treatments for important and life-threatening infections.”
Under the terms of the definitive agreement, the transaction is subject to customary closing conditions including clearance under the Hart-Scott-Rodino Antitrust Improvements Act. The transaction is expected to close in the fourth quarter of 2014.
Goldman, Sachs & Co. acted as exclusive financial advisor to Alios BioPharma in this transaction and Latham & Watkins LLP as its legal advisor.
About Alios BioPharma
Alios BioPharma is a clinical stage biopharmaceutical company in South San Francisco, CA that is developing novel therapies for the treatment of viral diseases. The Alios discovery and development platform consists of a proprietary chemical library of nucleoside analogs as well as novel, proprietary virology-based screening systems. Alios is developing a portfolio of potential therapeutics for viral infections including those caused by respiratory syncytial virus, influenza, rhinovirus, coronavirus and HCV. For more information please visit www.aliosbiopharma.com.
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Alios BioPharma contact:
John Donovan (Co-founder, Chief Business Officer)