XLRN

Qiming Venture Partners USA Announces $260 Million US Healthcare Fund III and Addition of New Partner, Isaac Ciechanover

Retrieved on: 
Thursday, June 2, 2022

Qiming Venture Partners USA (Qiming US), a leading US healthcare investment firm, today announced the closing of its third fund, raising $260 million in an oversubscribed fundraise with strong support from new and existing investors.

Key Points: 
  • Qiming Venture Partners USA (Qiming US), a leading US healthcare investment firm, today announced the closing of its third fund, raising $260 million in an oversubscribed fundraise with strong support from new and existing investors.
  • In addition to closing Fund III, Qiming US announced the addition of Isaac Ciechanover, M.D., as a Partner.
  • Isaac Ciechanover joins Qiming US from Polaris Venture Partners where he served as a Partner.
  • Established in 2017, Qiming US is an independent, US-based venture capital firm affiliated with Qiming Venture Partners, one of the leading venture capital firms in China.

Merck Completes Acquisition of Acceleron Pharma Inc.

Retrieved on: 
Monday, November 22, 2021

Merck (NYSE: MRK), known as MSD outside the United States and Canada, today announced the successful completion of the acquisition of Acceleron Pharma Inc. (Nasdaq: XLRN).

Key Points: 
  • Merck (NYSE: MRK), known as MSD outside the United States and Canada, today announced the successful completion of the acquisition of Acceleron Pharma Inc. (Nasdaq: XLRN).
  • Acceleron is focused on harnessing the power of the transforming growth factor (TGF)-beta superfamily of proteins that is known to play a central role in the regulation of cell growth, differentiation and repair.
  • Sotatercept is in Phase 3 trials as add-on to current standard of care for the treatment of PAH.
  • Forward-Looking Statement of Merck & Co., Inc., Kenilworth, N.J., USA
    This news release of Merck & Co., Inc., Kenilworth, N.J., USA (the company) includes forward-looking statements within the meaning of the safe harbor provisions of the U.S.

Merck Completes Tender Offer to Acquire Acceleron Pharma Inc.

Retrieved on: 
Friday, November 19, 2021

As of the tender offer expiration at 5:00 p.m., Eastern Time, on Nov. 19, 2021, 38,752,614 shares of common stock of Acceleron were validly tendered and not withdrawn from the tender offer, representing approximately 63.3% of the total number of Accelerons outstanding shares.

Key Points: 
  • As of the tender offer expiration at 5:00 p.m., Eastern Time, on Nov. 19, 2021, 38,752,614 shares of common stock of Acceleron were validly tendered and not withdrawn from the tender offer, representing approximately 63.3% of the total number of Accelerons outstanding shares.
  • All such shares have been accepted for payment in accordance with the terms of the tender offer, and Astros Merger Sub, Inc. expects to promptly pay for such shares.
  • Merck intends to complete the acquisition of Acceleron through a merger of Astros Merger Sub, Inc. with and into Acceleron, with Acceleron being the surviving corporation, in which all shares not tendered into the offer will be cancelled and converted into the right to receive cash equal to the $180 offer price per share, without interest and less any applicable tax withholding.
  • After the completion of the merger, Acceleron will become a wholly owned subsidiary of Merck and the common stock of Acceleron will no longer be listed or traded on the Nasdaq Global Market.

Avoro Capital Urges Acceleron Shareholders Not to Tender Into Merck’s Inadequate Offer

Retrieved on: 
Wednesday, November 17, 2021

That is why we are not going to tender our shares in support of the transaction.

Key Points: 
  • That is why we are not going to tender our shares in support of the transaction.
  • Avoro Capital L.P., is the parent of Avoro Capital Advisors LLC (Avoro Capital Advisors) and Avoro Ventures LLC (Avoro Ventures).
  • These forward-looking statements include, without limitation, statements regarding the planned completion of the transactions contemplated by the Tender Offer.
  • These risks and uncertainties are enumerated in Accelerons public filings and recent public communications regarding the Tender Offer by Acceleron and Merck.

Merck Announces Expiration of Hart-Scott-Rodino Act Waiting Period and Extension of Tender Offer to Acquire Acceleron Pharma Inc.

Retrieved on: 
Wednesday, November 17, 2021

The expiration of the HSR waiting period satisfies one of the conditions necessary for the consummation of the tender offer.

Key Points: 
  • The expiration of the HSR waiting period satisfies one of the conditions necessary for the consummation of the tender offer.
  • The tender offer may be extended further in accordance with the merger agreement and the applicable rules and regulations of the SEC.
  • All other terms and conditions of the tender offer will remain unchanged during the extended period.
  • The Information Agent for the tender offer is Innisfree M&A Incorporated, 501 Madison Avenue, 20th floor, New York, NY 10022.

Avoro Capital Releases Presentation Detailing Why Acceleron Shareholders Should Not Tender Into Merck’s Inadequate Offer

Retrieved on: 
Tuesday, November 9, 2021

Avoro today released a detailed presentation outlining why shareholders should not tender their Acceleron shares to the Merck & Co. Inc. (NYSE: MRK) ("Merck") tender offer for $180 per share (the "Tender Offer").

Key Points: 
  • Avoro today released a detailed presentation outlining why shareholders should not tender their Acceleron shares to the Merck & Co. Inc. (NYSE: MRK) ("Merck") tender offer for $180 per share (the "Tender Offer").
  • Mercks offer does not represent fair value for Acceleron: The implied valuation based on precedent transactions is much higher than the $180 per share Tender Offer price.
  • Avoro reiterates that it will not tender its shares into the Merck Tender Offer.
  • Avoro Capital L.P., is the parent of Avoro Capital Advisors LLC (Avoro Capital Advisors) and Avoro Ventures LLC (Avoro Ventures).

Merck Announces Receipt of Antitrust Clearance in Germany and Austria Relating to Tender Offer to Acquire Acceleron Pharma Inc.

Retrieved on: 
Monday, November 8, 2021

The receipt of antitrust clearance from the competition authorities in Germany and Austria satisfies one of the conditions necessary for the consummation of the tender offer.

Key Points: 
  • The receipt of antitrust clearance from the competition authorities in Germany and Austria satisfies one of the conditions necessary for the consummation of the tender offer.
  • The Depositary for the tender offer is Computershare Trust Company, N.A., c/o Voluntary Corporate Actions, P.O.
  • The Information Agent for the tender offer is Innisfree M&A Incorporated, 501 Madison Avenue, 20th floor, New York, NY 10022.
  • We demonstrate our commitment to patients and population health by increasing access to health care through far-reaching policies, programs and partnerships.

Acceleron Reports Third Quarter 2021 Financial Results

Retrieved on: 
Thursday, November 4, 2021

Acceleron Pharma Inc. (Nasdaq:XLRN), a biopharmaceutical company dedicated to the discovery, development, and commercialization of TGF-beta superfamily therapeutics to treat serious and rare diseases, today reported financial results for the third quarter ended September 30, 2021.

Key Points: 
  • Acceleron Pharma Inc. (Nasdaq:XLRN), a biopharmaceutical company dedicated to the discovery, development, and commercialization of TGF-beta superfamily therapeutics to treat serious and rare diseases, today reported financial results for the third quarter ended September 30, 2021.
  • Acceleron recognized approximately $32.0 million in royalty revenue from approximately $160 million in net sales of REBLOZYL in the third quarter of 2021.
  • These results should not be viewed as a substitute for the Companys GAAP results and are provided as a complement to results provided in accordance with GAAP.
  • In the reconciliation tables below, Acceleron presents these non-GAAP financial measures reconciled to their comparable GAAP financial measures.

Merck Announces Withdrawal and Refiling under the Hart-Scott-Rodino Act and Extension of Tender Offer to Acquire Acceleron Pharma Inc.

Retrieved on: 
Friday, October 29, 2021

Consummation of the tender offer remains subject to, among other conditions, the expiration or termination of the applicable waiting period under the HSR Act.

Key Points: 
  • Consummation of the tender offer remains subject to, among other conditions, the expiration or termination of the applicable waiting period under the HSR Act.
  • All other terms and conditions of the tender offer will remain unchanged during the extended period.
  • The Depositary for the tender offer is Computershare Trust Company, N.A., c/o Voluntary Corporate Actions, P.O.
  • The Information Agent for the tender offer is Innisfree M&A Incorporated, 501 Madison Avenue, 20th floor, New York, NY 10022.

Avoro Capital Issues Open Letter to Fellow Acceleron Pharma Shareholders

Retrieved on: 
Thursday, October 28, 2021

Avoro Capital Advisors (Avoro), a long-term and collaborative investor in life sciences and biotechnology companies, beneficially owns approximately 7% of Acceleron Pharma Inc. (Nasdaq:XLRN) (Acceleron, XLRN or the Company) together with certain of its affiliates and managed funds (Avoro, we or "us"), making it one of the Company's most significant shareholders.

Key Points: 
  • Avoro Capital Advisors (Avoro), a long-term and collaborative investor in life sciences and biotechnology companies, beneficially owns approximately 7% of Acceleron Pharma Inc. (Nasdaq:XLRN) (Acceleron, XLRN or the Company) together with certain of its affiliates and managed funds (Avoro, we or "us"), making it one of the Company's most significant shareholders.
  • Avoro today issued an open letter to fellow Acceleron shareholders further detailing why the proposed sale of Acceleron to Merck & Co. Inc. (NYSE:MRK) ("Merck") for $180 per share (the "Merger") is not in the best interests of all shareholders.
  • The full text of the letter follows:
    Avoro Capital, together with certain of our affiliates and managed funds, beneficially owns approximately 7% of Acceleron Pharma Inc., making us one of the Company's most significant shareholders.
  • Managing Partner and Portfolio Manager, Avoro Capital
    Avoro Capital L.P., is the parent of Avoro Capital Advisors LLC (Avoro Capital Advisors) and Avoro Ventures LLC (Avoro Ventures).