1st Apr 2026 16:17
(Alliance News) - Biotech Growth Trust PLC, International Biotechnology Trust PLC, ad RTW Biotech Opportunities Ltd have all noted the agreement announced by Biogen Inc on Tuesday to acquire Apellis Pharmaceuticals, Inc.
Apellis, a Waltham, Massachusetts-based biopharmaceutical company that develops treatments for serious diseases, is a portfolio company of all three companies.
All outstanding shares in Apellis will be purchased for USD41.00 in cash, totalling approximately USD5.60 billion. This was a premium of over double the closing share price on 30 March.
Shares in Nasdaq-listed Apellis were up 0.4% to USD40.39 in New York on Wednesday, and have more than doubled since the acquisition announcement on Tuesday.
Shareholders will also receive USD4.00 per share of contingent value right payments, based on Apellis products achieving certain sales milestones.
On March 30, Biotech Growth Trust's holding in Apellis represented 1.7% of its net asset value at the time of the announcement.
For International Biotechnology Trust, it represented 2.5% NAV, and for RTW Bio, as at close of business on the end of February, it represented 1.2%.
Biogen is a Cambridge, Massachussets-based biotechnology company also listed on Nasdaq. Shares in Biogen are down 0.3% at USD182.84 in New York on Wednesday.
By Abena Oppon, Alliance News reporter
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