Key Developments: OPKO Health Inc (OPK)
7.16USD
17 May 2013
$0.15 (+2.14%)
$7.01
$7.05
$7.16
$7.00
1,202,258
1,804,610
$7.83
$4.00
Latest Key Developments (Source: Significant Developments)
Xenetic Biosciences PLC Announces OPKO Health Inc Acquires 10% Stake in Xenetic's Partner OAO Pharmsynthez
Xenetic Biosciences PLC announced that OPKO Health Inc, led by Dr. Phil Frost, has acquired a 10% interest in one of Xenetic's strategic Russian partners, OAO Pharmsynthez (Pharmasynthez). It has been announced that OPKO and its partners will invest up to USD 60 million in two stages to fund clinical development of Pharmsynthez candidates licensed in from XEN under its Co-Development Agreement (CDA) completed in late 2009. In accordance with the CDA completed in late 2009, Pharmsynthez is responsible for the development of six novel drug candidate drugs using two of Xenetic's patented technologies, PolyXen, for biologic, and ImuXen, for vaccine products. Under the CDA and as announced by Xenetic (then Lipoxen plc) on 16 November 2009, Xenetic owns all development, manufacturing and distribution rights for any candidates originating thereunder - including the cystic fibrosis drug, PulmoXen and the novel MS vaccine, MyeloXen - in all territories outside Russia and the former CIS, while equal such rights are held by Pharmsynthez for all Russia and Former CIS territories. Full Article
OPKO Health Inc To Acquire Prolor Biotech Inc
OPKO Health Inc and Prolor Biotech Inc announced that the companies have signed a definitive merger agreement under which OPKO will acquire PROLOR in an all-stock transaction. Under the terms of the agreement, which has been approved by the boards of directors of both companies, holders of PROLOR common stock will receive 0.9951 shares of OPKO common stock for each share of PROLOR common stock. Based on a price of $7.03 per share of OPKO common stock, the transaction is valued at approximately $480 million, or $7.00 per share of PROLOR common stock. The companies expect the transaction to be completed during the second half of 2013. Barrington Research Associates, Inc., acted as the financial advisor to OPKO Health. Jefferies LLC acted as financial advisor to PROLOR Biotech and the Strategic Alternatives Committee on the transaction, and Oppenheimer & Co provided a fairness opinion to the Strategic Alternatives Committee. Akerman Senterfitt acted as legal advisor to OPKO Health. DLA Piper LLP (US) acted as legal advisor to the Strategic Alternatives Committee and Greenberg Traurig, P.A. acted as legal advisor to PROLOR Biotech. Full Article
RXi Pharmaceuticals Corp And OPKO Health Inc Announces Strategic Pooling Of RNAi Assets
RXi Pharmaceuticals Corp and OPKO Health, Inc. announced a strategic pooling of their respective assets in the field of RNA interference (RNAi). Therapeutics based on RNAi technologies hold great promise to treat a wide range of diseases based on their potential to sustainably down-regulate the expression of a specific gene that may be over-expressed in a disease condition. According to the terms of an asset purchase agreement jointly executed by the parties, RXi will acquire substantially all of OPKO's RNAi-related assets, including intellectual property portfolio. The patent portfolio includes 12 patent families with claims relating to important biological targets, including vascular endothelial growth factor (VEGF), hypoxia-inducible factor 1-alpha (HIF-1-alpha), intracellular adhesion molecule 1 (ICAM-1), angiopoietin 2 (Ang2), and complement component 3 (C3). These molecules are believed to play an important role in diseases of the eye, cancer, immune disorders, and inflammatory diseases. The acquisition is expected to close on March 12, 2013. As consideration for these assets, RXi will issue to OPKO 50 million shares of common stock and will make payments to OPKO up to an aggregate of $50 million per product tied to the development and commercialization of products utilizing the acquired OPKO intellectual property. In addition, upon commercialization of these products, if approved, RXi would make royalty payments to OPKO. Full Article
OPKO Health Inc Completes Acquisition of Cytochroma Inc
OPKO Health Inc announced that it has completed the acquisition of Cytochroma Inc. (Markham, Canada). Cytochroma`s lead products include CTAP101 Capsules, a vitamin D prohormone to treat secondary hyperparathyroidism (SHPT) in patients with stage 3 or 4 chronic kidney disease (CKD) and vitamin D insufficiency, and Fermagate Tablets, a new and potent non-absorbed phosphate binder to treat hyperphosphatemia in CKD patients on chronic hemodialysis. Full Article
OPKO Health Inc Completes Acquisition Of Brazilian Pharmaceutical Company
OPKO Health Inc announced that is has completed the acquisition of Silcon Comércio, Importacao E Exportacao de Produtos Farmaceuticos e Cosmeticos Ltda. Terms of the transaction were not disclosed. Full Article
OPKO Health Inc Closes Offering Of $175 Million Of 3.00% Convertible Senior Notes Due 2033
OPKO Health Inc announced the closing of its offering of $175.0 million aggregate principal amount of 3.00% convertible senior notes due 2033 (the Notes) in a private offering. OPKO intends to use the approximately $170.3 million of net proceeds from this offering for general corporate purposes, including research and development expenses, acceleration of clinical trials, acquisitions of new technologies or businesses, and other business opportunities. The Notes are OPKO's senior unsecured obligations and rank equally with all of OPKO's other existing and future senior unsecured debt. The Notes bear interest at the rate of 3.00% per year, payable semiannually on February 1 and August 1 of each year, beginning August 1, 2013. The Notes mature on February 1, 2033, unless earlier repurchased, redeemed or converted. Full Article
OPKO Health Inc Prices Offering of $175 Million of 3.00% Convertible Senior Notes Due 2033
OPKO Health Inc announced the pricing of its offering of $175.0 million aggregate amount of 3.00% convertible senior notes due 2033 (the Notes) in a private offering. OPKO expects that the sale of the Notes will close on January 30, 2013, subject to customary closing conditions. OPKO intends to use the net proceeds from this offering for general corporate purposes, including research and development expenses, acceleration of clinical trials, acquisitions of new technologies or businesses, and other business opportunities. They will bear interest at a fixed rate of 3.00% per year, payable semiannually in arrears on February 1 and August 1 of each year, beginning August 1, 2013. The Notes will mature on February 1, 2033, unless earlier repurchased, redeemed or converted. The Notes will be convertible into cash, shares of OPKO common stock or a combination of cash and shares at an initial conversion rate of 141.4827 shares of common stock per $1,000 principal amount of Notes (equivalent to an initial conversion price of approximately $7.07 per share of common stock), and will be subject to adjustment upon the occurrence of certain events. Full Article
OPKO Health Inc Announces Proposed Private Offering Of $150 Million Convertible Senior Notes Due 2033
OPKO Health Inc announced that it plans to sell approximately $150 million aggregate principal amount of convertible senior notes due 2033 (the Notes) in a private offering. The Notes will be OPKO's senior unsecured obligations and will rank equally with all of OPKO's other existing and future senior unsecured debt. The interest rate, conversion rate and other terms of the Notes will be determined at the time of pricing of the offering. The planned offering of Notes is subject to market conditions and other factors and no assurance can be given that the offering will be completed. OPKO intends to use the net proceeds from this offering for general corporate purposes, including research and development expenses, acceleration of clinical trials, acquisitions of new technologies or businesses and other business opportunities. Full Article
OPKO Health Inc To Acquire Cytochroma Inc
OPKO Health Inc announced that it has entered into a definitive agreement to acquire Cytochroma Inc. (Markham, Canada) whose lead products, both in phase 3 clinical trials, are Replidea (coded CTAP101 Capsules), a vitamin D prohormone to treat secondary hyperparathyroidism (SHPT) in patients with stage 3 or 4 chronic kidney disease (CKD) and vitamin D insufficiency, and Alpharen, a non-absorbed phosphate binder to treat hyperphosphatemia in dialysis patients. Replidea has been shown in a phase 2b clinical trial to effectively and safely treat SHPT and the underlying vitamin D insufficiency in pre-dialysis patients. Vitamin D insufficiency arises in CKD due to the abnormal upregulation of CYP24, an enzyme which destroys vitamin D and its metabolites. Studies in CKD patients have demonstrated that currently available over-the-counter and prescription vitamin D products cannot reliably raise blood vitamin D prohormone levels or effectively treat SHPT. Terms of the transaction were not disclosed. Full Article
Farmsintez OAO Acquires Development and Commercial Rights to Cancer-Treatment Drug from OPKO Health Inc-Interfax
Interfax reported that Farmsintez OAO (Pharmsynthez) has purchased from the US biopharmaceutical company OPKO Health Inc the development and commercial rights to a cancer-treatment drug, an angiogenesis inhibitor based on synthetic peptoid, Pharmsynthez said, without revealing the cost of the deal. Per the license agreement, Pharmsynthez will be carrying out pre-clinical and clinical development and commercialization of the treatment for markets in Russia, Europe, and Asia, and will secure exclusive rights to it in these regions. Full Article
OPKO Health to buy Israel's Prolor Biotech for $480 million
TEL AVIV - OPKO Health Inc will buy Israel-based biopharmaceutical company Prolor Biotech Inc in an all-stock deal valued at $480 million to expand its portfolio of specialty drugs.
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