MorphoSys completes the acquisition of Constellation Pharmaceuticals for $ 1.7 billion
MorphoSys completes the acquisition of Constellation, a clinical-stage biopharmaceutical company.
MorphoSys AG announced the success of its previously announced cash tender offer for all outstanding shares of Constellation Pharmaceuticals in a press release dated July 15, 2021.
All actions validly contributed and not validly withdrawn have been accepted in payment. MorphoSys will complete its acquisition of Constellation, and Constellation will be an indirect wholly owned subsidiary of MorphoSys. The merger is expected to close on July 15, 2021 and the deal is worth approximately $ 1.7 billion.
“With Constellation’s high potential product candidates, its complementary R&D capabilities and its exceptional team, we can advance our mission in the fight against cancer,” said Jean-Paul Kress, CEO of MorphoSys, in a press release. hurry. “This transformational acquisition strengthens our position in hematology-oncology and marks the beginning of an important new chapter in the history of our company. “
MorphoSys will remain based in Munich, Germany. He will also maintain a commercial and R&D presence in Boston, Mass.