Skip to main content

VectivBio sold for approximately 1 billion dollars

| News

VectivBio sold for approximately 1 billion dollars

23.05.2023

The takeover of VectivBio is now being finalized: the Boston-based firm Ironwood Pharmaceuticals, which specializes in gastrointestinal medicine, has agreed to acquire the Basel-based biotech firm, which was founded in 2019. The purchase price is estimated to come to an overall value of around 1 billion US dollars.

Ironwood Pharmaceuticals is acquiring the Basel-based biotech firm VectivBio for a price of 17.00 US dollars per share. The all-cash transaction amounts to an estimated total value of around 1 billion US dollars (net of VectivBio cash and debt), further details of which can be found in a press release. The takeover price corresponds to a premium of 80 percent on the average share price over the past 90 trading days

VectivBio is a clinical-stage biotechnology company focused on the discovery and development of therapies to treat serious rare diseases, including short bowel syndrome with intestinal failure (SBS-IF) and acute graft versus host disease. Ironwood, a pharmaceutical firm that focuses on gastrointestinal medicine, is of the conviction that its active ingredient Apraglutide to treat short bowel syndrome, which is currently undergoing a Phase 3 study, is capable alone of generating net sales of 1 billion US dollars overall.

Second major takeover in short time

“Ironwood’s capabilities and established track record in GI make it the ideal company to bring apraglutide, if approved, to patients suffering from SBS-IF and other serious GI conditions. We believe this transaction represents the best outcome for our patients and shareholders”, explains Dr. Luca Santarelli, CEO of VectivBio, in the press release.

This is the already the second major takeover deal for a biotech company from the Basel Area since December 2020. At this time, the German firm Boehringer Ingelheim reinforced its cancer pipeline portfolio with the acquisition of NBE-Therapeutics, a life sciences firm founded in 2012 and headquartered in the Tech Park Basel. The purchase price amounted to 1.18 billion euros.

Share this article

Sign up to receive our newsletter in your inbox.

You may also be interested in

Nouscom secures 67.5 million euros in financing

Biotech company Nouscom has raised 67.5 million euros in a series C financing round. The Basel-based firm intends to use...
Read More

Celebrating six months of innovation: i4Challenge accelerator New Ideas 2022/2023

On the 5th of July 2023, the 3rd iteration of the i4Challenge accelerator program New Ideas came to its conclusion....
Read More

How open innovation in healthtech hubs is fueling the rise of digital healthcare

How the ever-increasing uptake of digital solutions is enhancing patient engagement, increasing access to care and lowering the cost of...
Read More

Paradigm shift in pain management

Pain is a crucial sensation for survival, but it can also drive us to depression and long-term suffering if not...
Read More

BOOM Summit in Basel accelerates health technology

The BOOM Summit at Messe Basel in April 2024 will be a completely new kind of healthcare conference. The first...
Read More

Investors stump up 3.7 million Swiss francs in Onena Medicines

Onena Medicines has secured an investment of 3.7 million Swiss francs. The portfolio company of the biotech startup incubator BaseLaunch...
Read More

Do you have a question? We'd like to hear from you.