Ipsen snags an ap­proved can­cer drug in $247M M&A deal as an­oth­er bat­tered biotech sells cheap

You can add Paris-based Ipsen to the list of dis­count buy­ers pa­trolling the pen­ny stock pack for a cheap M&A deal.

The French biotech, which has had plen­ty of its own prob­lems to grap­ple with, has swooped in to buy Epizyme $EPZM for $247 mil­lion in cash and a CVR with mile­stones at­tached to it. Epizyme share­hold­ers, who had to suf­fer through a painful­ly soft launch of their EZH2a in­hibitor can­cer drug Tazverik, will get $1.45 per share along with a $1 CVR tied to achiev­ing $250 mil­lion in sales from the drug over four con­sec­u­tive quar­ters as well as an OK for sec­ond-line fol­lic­u­lar lym­phoma by Jan. 1, 2028.

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