Biogen to acquire Alcyone Therapeutics

Summary by AI BETAClose X

RTW Biotech Opportunities Ltd announced that Biogen will acquire Alcyone Therapeutics for an upfront cash payment of $85 million plus potential milestone payments. This upfront payment represents a 242% increase over RTW Biotech's $2.1 million carrying value of Alcyone. The acquisition will add $5.0 million, or 0.72%, to the company's net asset value as of August 31, where Alcyone represented a 0.31% position. RTW Bio initially invested in Alcyone in June 2021. This marks the second acquisition event for RTW Bio's portfolio this year.

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