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Pfizer pays $49.8mm for remainder of partner Icagen
24 Mar 2022
Executive Summary
In its second recent acquisition to build up pain management capabilities, Pfizer Inc. is buying public ion channel modulation firm Icagen Inc. The Big Pharma will pay $6 per share (a 9% discount) for the 89% of Icagen’s shares (approximately 8.3mm) that it didn’t already own, amounting to a total of $49.8mm. Pfizer indicated a possible takeover in late June, after the company filed a Schedule 13D with the SEC. At that time, the parties entered into preliminary discussions.
Deal Industry
- Pharmaceuticals
-
Biotechnology
-
Drug Discovery Tools
- Bioinformatics
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Drug Discovery Tools
Deal Status
- Final
Deal Type
-
Acquisition
- Includes Contract
- Partial Acquisition
- Payment Includes Cash for Equity
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Pfizer pays $49.8mm for remainder of partner Icagen
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