Biogen, Inc. to acquire WWH portfolio company, Apellis Pharmaceuticals, Inc.

Summary by AI BETAClose X

Worldwide Healthcare Trust PLC notes Biogen Inc.'s agreement to acquire its portfolio company, Apellis Pharmaceuticals, Inc., for approximately $5.6 billion, or $41 per share in cash, representing a 140% premium. This offer includes an additional $4 per share in contingent value rights, potentially increasing the premium to 163% if sales milestones are met. Apellis, a biopharmaceutical company with two approved C3-targeted drugs, EMPAVELI and SYFOVRE, generated $689 million in net product revenues in 2025 and anticipates mid-to-high teens revenue growth through at least 2028. Worldwide Healthcare Trust's holding in Apellis constituted 1.48% of its net asset value at the time of the announcement, and this transaction is reflected in the company's NAV as of March 31, 2026.

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