Sosei to take equity stake and acquisition option in MiNA Therapeutics
Japanese drugmaker Sosei Group (TYO Mothers Index: 4565) has entered into a definitive agreement to make an investment in and acquire an exclusive option to potentially acquire MiNA Therapeutics, a private UK biopharmaceutical company and pioneer in RNA activation therapeutics (small activating RNAs, saRNAs).
Key aspects of the agreement include:
- Sosei will make an upfront strategic investment of £35 million ($45.3 million) into MiNA in return for a 25.6% equity share and an exclusive option to potentially acquire MiNA;
- Phased options will be based on achievement of clinical milestones of MiNA’s Phase I/IIa OUTREACH study with MTL-CEBPA in advanced liver cancer;
- MiNA will continue to develop further and enhance its RNA activation platform and build its pipeline of novel saRNA therapeutics targeting multiple indications.
- Under the terms of the agreement, Sosei will pay an exclusive option to acquire further defined stakes and potentially 100% of MiNA for a further £140 million; and
- In addition, and should Sosei fully exercise its option, MiNA shareholders could receive up to a further £240 million.
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