IN BRIEF: International Biotechnology Trust notes Novo to buy Akero
International Biotechnology Trust PLC - investor in biotech and life science companies - Notes portfolio firm Akero Therapeutics Inc as agreed to be taken over by Novo Nordisk AS in a deal worth up to EUR5.2 billion. Novo Nordisk will pay an initial USD54 per share, with a contingent portion of the deal worth USD6 per share. The Bagsvaerd, Denmark-based pharmaceuticals company will pay an initial EUR4.7 billion to buy the firm, and a potential additional payment of EUR500 million, hinging on US regulatory approval for key Akero treatment Efruxifermin. The deal adds Akero's Efruxifermin to Novo Nordisk's portfolio. The asset is aimed at treating metabolic dysfunction-associated steatohepatitis, a disease caused by fat buildup in the liver. Read More