Ex­pan­sive So­sei lays out a $534M ac­qui­si­tion plan for the am­bi­tious saR­NA biotech Mi­NA

Af­ter swoop­ing in to buy Hep­tares a cou­ple of years ago in a $400 mil­lion deal, So­sei has put a new ac­qui­si­tion play in mo­tion. This morn­ing CEO Pe­ter Bains at So­sei took the first step to­ward a new buy­out, snag­ging 25.6% of the eq­ui­ty of Mi­NA Ther­a­peu­tics and an ex­clu­sive op­tion to ac­quire the com­pa­ny for $45 mil­lion in cash.

Right now Mi­NA is putting its small ac­ti­vat­ing RNA (saR­NA) tech­nol­o­gy to a Phase I/IIa test in liv­er can­cer. If the tri­al works, fol­low­ing an es­tab­lished sched­ule of mile­stones, So­sei can com­plete the deal for an­oth­er $180 mil­lion in cash plus $309 mil­lion more in mile­stones — for a to­tal of $534 mil­lion.

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