Swedish Orphan Biovitrum AB (SOBI) has announced that it made an agreement to acquire Dova Pharmaceuticals.
As per the agreement, an upfront payment f USD 27.50 was made in case and one non-Contingent Value Right. As per CVR, Dova shareholders get an additional USD 1.50 per share after the approval of Doptelet, a drug indicated for Chemotherapy-Induced Thrombocytopenia (CIT) by US Food and Drug Administration (FDA).
As per the agreement
Dova provides SOBI market authorization rights for chronic immune thrombocytopenia (ITP), thrombocytopenia induced by chronic liver disease
It is expected to enhance SOBI’s presence in the United States
Dova Pharmaceuticals founded in 2016 has commercialized Doptelet, a second generation thrombopoietin agonist indicated for thrombocytopenia. The product has received the US FDA approval for treating adult patients with thrombocytopenia in CLD patients. In June 2019, it was approved for chronic immune thrombocytopenia. In June 2019, the drug was approved for CLD by European Medicines Agency (EMA).
The total value of the transaction is USD 915 million.