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MorphoSys to Complete $1.7 Billion Acquisition of Constellation Pharmaceuticals
MorphoSys completes the acquisition of Constellation, a clinical-stage biopharmaceutical company.
MorphoSys AG announced the successful completion of its previously announced cash tender offer for all outstanding shares of Constellation Pharmaceuticals in a July 15, 2021 press release.
All shares that were validly tendered and not validly withdrawn have been accepted for payment. MorphoSys will complete its acquisition of Constellation, and Constellation will be an indirect wholly owned subsidiary of MorphoSys. The merger is expected to close on July 15, 2021, and the value of the transaction is approximately $1.7 billion.
"With Constellation's high-potential product candidates, complementary R&D capabilities, and outstanding team, we can further advance our mission in the fight against cancer," said Jean-Paul Kress, CEO of MorphoSys, in a press release. "This transformational acquisition bolsters our position in hematology-oncology and marks the beginning of an important next chapter in our company's history."
MorphoSys will remain headquartered in Munich, Germany. It will also maintain a commercial and R&D presence in Boston, Mass.
Source: MorphoSys