Sosei to take equity stake and acquisition option in MiNA Therapeutics

3 May 2017

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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