Global Neurology Medicine Market Set to Expand with Immedica Pharma’s Acquisition of Marinus Pharmaceuticals
In a significant move to strengthen its presence in the rare neurology medicine market, Immedica Pharma has announced its agreement to acquire Marinus Pharmaceuticals through a tender offer and subsequent merger. This strategic acquisition grants Immedica global rights to Zealmy, a commercial-stage medicine approved by prominent regulatory bodies worldwide, including the FDA, European Commission, and National Medicines Product Administration in China.
Unlocking Zealmy’s Potential
Zealmy, a rare neurology medicine, has already received approval in several countries and holds immense potential for further approvals globally. With this acquisition, Immedica is poised to capitalize on Zealmy’s growth opportunities, expanding its reach and impact in the global neurology market.
Transaction Details
Immedica will initiate a cash tender offer to acquire all outstanding shares of Marinus for 55 cents per share, representing an implied enterprise value of approximately $151 million. This offer corresponds to a premium of 48% based on Marinus’ closing share price as of December 27 and a premium of 97% based on the 30-day volume-weighted average price preceding the announcement.
Board Approval and Recommendation
The board of directors of Marinus has unanimously approved the transaction and recommended that stockholders tender their shares in the tender offer. Immedica has also received undertakings from each director and named executive officer of Marinus to tender their respective shares in favor of the transaction.
Culmination of Strategic Review
This acquisition marks the culmination of Marinus’ review of strategic alternatives, which it announced on October 24. The transaction is expected to close in Q1 2025, subject to customary conditions, including the tender of shares representing at least a majority of Marinus’ outstanding shares of common stock.
Next Steps
Upon the successful completion of the tender offer, Immedica would acquire any remaining shares of Marinus’ common stock not tendered through a second-step merger, ensuring a seamless integration of the two companies. With this acquisition, Immedica is poised to make a significant impact in the global neurology market, driving growth and innovation in the rare disease space.
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