Immedica to Acquire Biopharmaceutical Company Marinus Pharmaceuticals, Inc.
Immedica Pharma AB has announced an agreement to acquire Marinus Pharmaceuticals (Nasdaq: MRNS) through a tender offer and subsequent merger. The deal, valued at approximately USD 151 Million, will see Immedica paying USD 0.55 per share, representing a 48% premium over Marinus' closing price on December 27th.
The acquisition centers around ZTALMY®, an FDA-approved treatment for seizures associated with CDKL5 deficiency disorder. The drug is also approved in Europe, UK, and China. This strategic move will strengthen Immedica's presence in the rare disease market, particularly in North America, adding an immediate revenue-generating product to their portfolio.
The transaction is expected to close in Q1 2025, subject to customary conditions including tender of majority shares. The Board of Directors of Marinus has unanimously approved the transaction.
Immedica Pharma AB ha annunciato un accordo per acquisire Marinus Pharmaceuticals (Nasdaq: MRNS) tramite un'offerta pubblica di acquisto e successiva fusione. L'accordo, del valore di circa 151 milioni di USD, vedrà Immedica pagare 0,55 USD per azione, il che rappresenta un premio del 48% rispetto al prezzo di chiusura di Marinus del 27 dicembre.
L'acquisizione si concentra su ZTALMY®, un trattamento approvato dalla FDA per le crisi associate al disturbo da carenza di CDKL5. Il farmaco è approvato anche in Europa, Regno Unito e Cina. Questa mossa strategica rafforzerà la presenza di Immedica nel mercato delle malattie rare, in particolare in Nord America, aggiungendo un prodotto in grado di generare ricavi immediati al loro portafoglio.
La transazione è prevista per chiudere nel Q1 2025, soggetta a condizioni consuete, inclusa l'offerta della maggioranza delle azioni. Il Consiglio di Amministrazione di Marinus ha approvato all'unanimità la transazione.
Immedica Pharma AB ha anunciado un acuerdo para adquirir Marinus Pharmaceuticals (Nasdaq: MRNS) a través de una oferta pública de adquisición y posterior fusión. El acuerdo, valorado en aproximadamente 151 millones de USD, verá a Immedica pagar 0,55 USD por acción, lo que representa una prima del 48% sobre el precio de cierre de Marinus del 27 de diciembre.
La adquisición se centra en ZTALMY®, un tratamiento aprobado por la FDA para las convulsiones asociadas con el trastorno de deficiencia de CDKL5. El medicamento también está aprobado en Europa, Reino Unido y China. Este movimiento estratégico fortalecerá la presencia de Immedica en el mercado de enfermedades raras, particularmente en América del Norte, añadiendo un producto generador de ingresos inmediatos a su portafolio.
Se espera que la transacción se cierre en Q1 2025, sujeta a condiciones habituales, incluida la oferta de la mayoría de las acciones. La Junta Directiva de Marinus ha aprobado unánimemente la transacción.
Immedica Pharma AB는 Marinus Pharmaceuticals (Nasdaq: MRNS)를 인수하기 위한 협약을 발표했습니다. 이는 공개매수 및 후속 합병을 통해 이루어지며, 거래 규모는 약 1억 5천 1백만 달러로 평가됩니다. Immedica는 주당 0.55달러를 지불할 예정이며, 이는 마리누스의 12월 27일 종가에 비해 48%의 프리미엄을 의미합니다.
이번 인수는 CDKL5 결핍 장애와 관련된 발작 치료제인 ZTALMY®를 중심으로 이루어집니다. 이 약물은 FDA뿐만 아니라 유럽, 영국, 중국에서도 승인되었습니다. 이러한 전략적 움직임은 Immedica의 희귀 질환 시장에서의 입지를 강화하고, 특히 북미에서 즉각적인 수익을 창출할 수 있는 제품을 포트폴리오에 추가하게 됩니다.
이번 거래는 2025년 1분기에 완료될 것으로 예상되며, 대다수 주식의 매입을 포함한 일반적인 조건에 따라 진행됩니다. Marinus의 이사회는 이번 거래를 만장일치로 승인했습니다.
Immedica Pharma AB a annoncé un accord pour acquérir Marinus Pharmaceuticals (Nasdaq: MRNS) par le biais d'une offre publique d'achat et d'une fusion subséquente. Cet accord, d'une valeur d'environ 151 millions USD, verra Immedica payer 0,55 USD par action, ce qui représente une prime de 48 % par rapport au prix de clôture de Marinus du 27 décembre.
L'acquisition concerne ZTALMY®, un traitement approuvé par la FDA pour les crises associées au trouble de déficit en CDKL5. Ce médicament est également approuvé en Europe, au Royaume-Uni et en Chine. Ce mouvement stratégique renforcera la présence d'Immedica sur le marché des maladies rares, en particulier en Amérique du Nord, en ajoutant un produit générant immédiatement des revenus à leur portefeuille.
La transaction devrait être finalisée au Q1 2025, sous réserve des conditions habituelles, y compris l'offre de la majorité des actions. Le conseil d'administration de Marinus a approuvé la transaction à l'unanimité.
Immedica Pharma AB hat eine Vereinbarung zur Übernahme von Marinus Pharmaceuticals (Nasdaq: MRNS) durch ein öffentliches Übernahmeangebot und anschließende Fusion bekannt gegeben. Das Geschäft hat einen Wert von etwa 151 Millionen USD und sieht vor, dass Immedica 0,55 USD pro Aktie zahlt, was eine Prämie von 48% gegenüber dem Schlusskurs von Marinus am 27. Dezember darstellt.
Die Übernahme konzentriert sich auf ZTALMY®, ein von der FDA zugelassenes Medikament zur Behandlung von Anfällen, die mit der CDKL5-Defizienzstörung verbunden sind. Das Arzneimittel ist auch in Europa, Großbritannien und China zugelassen. Dieser strategische Schritt wird die Präsenz von Immedica im Markt für seltene Krankheiten stärken, insbesondere in Nordamerika, und ein sofort Einnahmen generierendes Produkt zu ihrem Portfolio hinzufügen.
Die Transaktion wird voraussichtlich im Q1 2025 abgeschlossen, vorbehaltlich üblicher Bedingungen, einschließlich des Angebots der Mehrheit der Aktien. Der Verwaltungsrat von Marinus hat die Transaktion einstimmig genehmigt.
- 48% premium offered to shareholders at USD 0.55 per share
- Acquisition adds revenue-generating FDA-approved drug ZTALMY to portfolio
- Product already has multiple international approvals (FDA, EC, MHRA, NMPA)
- Transaction expected to accelerate Immedica's revenue growth
- Low absolute share price of USD 0.55 indicates company's challenging situation
- Strategic review culminating in sale suggests standalone viability challenges
Insights
This acquisition marks a strategic pivot in the rare disease pharmaceutical space. The deal values Marinus at
Key financial implications: The
The transaction's timing and structure indicate this was a competitive process, with the tender offer mechanism allowing for a potentially faster closing timeline in Q1 2025. The unanimous board approval and management commitments to tender suggest strong internal confidence in the deal's fairness.
The acquisition strategically positions ZTALMY, an FDA-approved treatment for CDKL5 deficiency disorder (CDD), for expanded global commercialization. The drug's unique position as the first approved therapy for CDD seizures creates a protected market opportunity. Having secured approvals from major regulatory bodies (FDA, EC, MHRA and NMPA), ZTALMY's global commercial potential is substantially de-risked.
The deal's structure suggests Immedica is primarily acquiring ZTALMY for its revenue-generating potential in the rare disease space, where pricing power and market exclusivity create attractive economics. The immediate access to Marinus's commercial infrastructure in North America provides Immedica with an established rare disease platform, significantly accelerating their market entry strategy.
For patients and healthcare providers, this acquisition likely means improved global access to ZTALMY, leveraging Immedica's rare disease expertise and international presence to expand treatment availability. This consolidation in the rare disease space could lead to more efficient commercialization and potentially accelerated geographic expansion.
The acquisition complements and further strengthens Immedica’s global rare disease business by adding ZTALMY® (ganaxalone) oral suspension, CV, a neuroactive steroid gamma-aminobutyric acid (GABA)-A receptor positive modulator, approved by the
Transaction rationale and details in brief:
-
Adds global rights to ZTALMY, a commercial-stage rare neurology medicine approved by FDA, the European Commission (EC), the
UK Medicines and Healthcare products Regulatory Agency (MHRA) and the National Medicines Product Administration (NMPA) inChina with potential for further approvals worldwide. - Accelerates Immedica’s growth into the North American market, providing an immediate revenue-generating rare disease product and an experienced commercial team upon closing of the transaction.
-
Acquisition is expected to accelerate Immedica’s revenue growth, adding a commercial-stage asset in
the United States , with the potential for further expansion globally. -
Immedica to commence a cash tender offer to acquire all issued and outstanding shares of Marinus for
USD 0.55 per share, corresponding to an implied enterprise value of approximatelyUSD 151 Million . - Transaction is expected to close in Q1 2025.
“The acquisition of Marinus represents a transformative step in Immedica’s journey to further strengthen our position as a leading rare disease company. By adding ZTALMY to our portfolio, we significantly strengthen our capabilities and expand our presence in
“Immedica is dedicated to addressing significant unmet medical needs in rare diseases, ensuring patients receive the innovative treatments they deserve. Within CDD, patients with refractory seizures face particularly challenging circumstances due to insufficiently effective existing therapies. The addition of ZTALMY allows us to offer a differentiated solution, with the potential to improve care and outcomes for these patients,” he concluded.
“I am proud of the dedication and passion of our team at Marinus, which allowed us to deliver the first and only FDA-approved treatment for seizures associated with CDKL5 deficiency disorder in patients two years of age and older,” said Scott Braunstein, M.D., Chairman and Chief Executive Officer of Marinus. “With a shared commitment to improving the lives of rare disease patients, this acquisition is expected to enable ZTALMY to make an even greater impact on patients, while providing meaningful value for Marinus’ stockholders.”
Transaction details
Under the terms of the merger agreement, Immedica, through a wholly owned, direct subsidiary, will initiate a tender offer to acquire all the outstanding shares of Marinus common stock for a cash purchase price of
The transaction represents the culmination of Marinus’ review of strategic alternatives, which it announced on October 24, 2024, with the goal of maximizing value for its stockholders.
The closing of the tender offer will be subject to customary conditions, including the tender of shares which represent at least a majority of the total number of Marinus’ outstanding shares of common stock. Upon the successful completion of the tender offer, Immedica would acquire any shares of Marinus’ common stock not tendered through a second-step merger effected for the same per share consideration. The transaction is expected to close in Q1 2025.
Advisors
MTS Health Partners LP is acting as Immedica’s exclusive financial advisor in connection with the transaction.
About ZTALMY® (ganaxolone) oral suspension
ZTALMY (ganaxolone) is a neuroactive steroid GABAA receptor modulator that acts on a well-characterized target in the brain known to have anti-seizure effects. It is a prescription medicine that has been approved by the
European Union Summary of Product Characteristics for ZTALMY.
About Marinus Pharmaceuticals
Marinus is a commercial-stage pharmaceutical company dedicated to the development of innovative therapeutics for seizure disorders. The Company’s product, ZTALMY® (ganaxolone) oral suspension CV, is an FDA-approved prescription medication introduced in the
About Immedica
Immedica is a pharmaceutical company, headquartered in
Immedica was founded in 2018 and employs today around 130 people across
Important information
The tender offer for the outstanding shares of common stock of Marinus Pharmaceuticals, Inc. referenced in this press release has not yet commenced. This document is for informational purposes only, is not a recommendation and is neither an offer to purchase nor a solicitation of an offer to sell any securities of Marinus’, nor is it a substitute for the tender offer materials that Immedica and Matador Subsidiary, Inc., a
Forward-looking statements
This press release contains forward-looking statements related to Immedica, Marinus and the proposed acquisition of Marinus by Immedica (the “Transaction”) that involve risks and uncertainties and reflect each of Immedica’s and Marinus’ judgment as of the date of this press release. These forward-looking statements generally are identified by words such as “believe,” “can,” “could”, “seek”, “project,” “expect,” “anticipate,” “estimate,” “intend,” “strategy,” “future,” “opportunity,” “plan,” “may,” “might”, “should,” “will,” “would,” “will be,” “will continue,” “will likely result” and similar expressions. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties, many of which are outside of Immedica’s and Marinus’ control. These forward-looking statements include, without limitation, statements regarding: the timing of the Transaction and when and whether the Transaction ultimately will close; the potential contributions the Transaction is expected to bring to Immedica; the expected impact on Immedica’s future financial and operating results; Marinus’ plans, objectives and expectations and intentions; the financial condition, results of operations and respective businesses of Marinus and Immedica; and any potential strategic benefits, synergies or opportunities expected as a result of the proposed Transaction. Many factors could cause actual future events to differ materially from Immedica’s and Marinus’ expectations, including, without limitation: the risk that the conditions to the closing of the Transaction are not satisfied, including the risk that Immedica may not receive sufficient number of shares tendered from Marinus’ stockholders to complete the tender offer; the possibility that competing offers will be made; litigation relating to the Transaction; uncertainties as to the timing of the consummation of the Transaction and the ability of each of Immedica, Purchaser or Marinus to consummate the Transaction; the occurrence of any event, change or other circumstance that could give rise to the termination of the merger agreement entered into between the companies; other business effects, including the effects of industry, economic or political conditions outside of the companies' control; the impact of competitive products and pricing; the effect of the announcement or pendency of the Transaction on Immedica’s or Marinus’ ability to retain and hire key personnel; competitive responses to the Transaction; unexpected costs, charges or expenses resulting from the Transaction; potential adverse reactions or changes to business relationships resulting from the announcement or completion of the Transaction; Immedica’s ability to achieve the growth prospects and synergies expected from the Transaction, as well as delays, challenges and expenses associated with integrating Marinus with its existing businesses; legislative, regulatory and economic developments; and other risks described in Immedica’s and Marinus’ respective prior press releases and listed under the heading "Risk Factors" in Marinus’ reports filed with the
View source version on businesswire.com: https://www.businesswire.com/news/home/20241230307666/en/
Immedica:
Linda Holmström
Head of Communications
linda.holmstrom@immedica.com
Marinus:
Molly Cameron
Director, Corporate Communications & Investor Relations
Marinus Pharmaceuticals, Inc.
mcameron@marinuspharma.com
Source: Marinus Pharmaceuticals
FAQ
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