Three years af­ter piv­ot­ing out of dis­as­ter, Vec­tura gets a $1.4B pri­vate eq­ui­ty buy­out

Three years ago, af­ter a sec­ond of Vec­tura’s Phase III can­di­dates crashed and burned, the British biotech de­cid­ed that, you know, maybe this whole drug de­vel­op­ment thing wasn’t for them. They hired a new CEO from Catal­ent and an­nounced they would fo­cus on just help­ing man­u­fac­ture the drugs that oth­er com­pa­nies de­vel­oped.

That shift has now paid off hand­some­ly. Vec­tura an­nounced Wednes­day that the pri­vate eq­ui­ty firm Car­lyle Group agreed to buy them out for $1.4 bil­lion, or a 32% pre­mi­um on the com­pa­ny’s mar­ket val­ue en­ter­ing to­day. The price per share, $161, is more than dou­ble what Vec­tura $VEC trad­ed for in win­ter of 2018, be­fore they re­brand­ed as a CD­MO.

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