Pacira BioSciences Acquires Remaining Equity Stake of GQ Bio
Pacira BioSciences (PCRX) has acquired the remaining 81% equity stake in GQ Bio Therapeutics for approximately $32 million. The transaction includes $18 million paid at closing, $8 million over three years for key employee retention, and a $6 million post-closing indemnity holdback.
The acquisition strengthens Pacira's '5x30' strategy to become an innovative biopharmaceutical organization, adding GQ Bio's high-capacity adenovirus (HCAd) gene therapy vector platform. This platform enables efficient genetic medicines delivery and supports multiple gene constructs, particularly focusing on musculoskeletal diseases.
The deal eliminates Pacira's future milestone payment obligations of up to $64 million, including a $4.5 million payment due for PCRX-201's Phase 2 clinical trial initiation. Pacira plans to maintain GQ Bio's operations and invest in the HCAd platform, leveraging its clinical, regulatory, and commercial capabilities to address chronic pain conditions affecting nearly 1 in 4 Americans.
Pacira BioSciences (PCRX) ha acquisito la restante partecipazione azionaria dell'81% in GQ Bio Therapeutics per circa 32 milioni di dollari. La transazione include 18 milioni di dollari pagati al momento della chiusura, 8 milioni di dollari distribuiti su tre anni per la retention dei dipendenti chiave, e un'indennità di 6 milioni di dollari trattenuta post-chiusura.
L'acquisizione rafforza la strategia '5x30' di Pacira per diventare un'organizzazione biopharmaceutica innovativa, aggiungendo la piattaforma di vettori per terapia genica ad adenovirus ad alta capacità (HCAd) di GQ Bio. Questa piattaforma consente una consegna efficiente dei medicinali genetici e supporta molteplici costrutti genici, concentrandosi in particolare sulle malattie muscoloscheletriche.
Il contratto elimina le future obbligazioni di pagamento di milestone di Pacira fino a 64 milioni di dollari, incluso un pagamento di 4,5 milioni di dollari dovuto per l'inizio della fase 2 della sperimentazione clinica di PCRX-201. Pacira prevede di mantenere le operazioni di GQ Bio e investire nella piattaforma HCAd, sfruttando le proprie capacità cliniche, regolatorie e commerciali per affrontare le condizioni di dolore cronico che colpiscono quasi 1 americano su 4.
Pacira BioSciences (PCRX) ha adquirido el restante 81% de participación en GQ Bio Therapeutics por aproximadamente 32 millones de dólares. La transacción incluye 18 millones de dólares pagados al cierre, 8 millones de dólares durante tres años para la retención de empleados clave, y un retención de indemnización de 6 millones de dólares después del cierre.
La adquisición refuerza la estrategia '5x30' de Pacira para convertirse en una organización biofarmacéutica innovadora, añadiendo la plataforma de vectores de terapia génica de adenovirus de alta capacidad (HCAd) de GQ Bio. Esta plataforma permite una entrega eficiente de medicamentos genéticos y soporta múltiples construcciones genéticas, enfocándose particularmente en enfermedades musculoesqueléticas.
El acuerdo elimina las futuras obligaciones de pago de hitos de Pacira de hasta 64 millones de dólares, incluyendo un pago de 4.5 millones de dólares debido por el inicio del ensayo clínico de fase 2 de PCRX-201. Pacira planea mantener las operaciones de GQ Bio e invertir en la plataforma HCAd, aprovechando sus capacidades clínicas, regulatorias y comerciales para abordar las condiciones de dolor crónico que afectan a casi 1 de cada 4 estadounidenses.
Pacira BioSciences (PCRX)는 GQ Bio Therapeutics의 남은 81% 지분을 약 3200만 달러에 인수했습니다. 이 거래에는 마감 시 1800만 달러 지급, 주요 직원 유지를 위한 3년 동안의 800만 달러, 마감 후 600만 달러의 손해 보전 유보가 포함됩니다.
이번 인수는 Pacira의 혁신적인 생물 제약 조직이 되기 위한 '5x30' 전략을 강화하며, GQ Bio의 고용량 아데노바이러스(HCAd) 유전자 치료 벡터 플랫폼을 추가합니다. 이 플랫폼은 효율적인 유전자 의약품 전달을 가능하게 하고, 여러 유전자 구조를 지원하며, 특히 근골격계 질환에 집중하고 있습니다.
이번 거래는 PCRX-201의 2상 임상 시험 시작을 위해 예정된 450만 달러를 포함하여 Pacira의 미래 마일스톤 지급 의무를 최대 6400만 달러까지 없앱니다. Pacira는 GQ Bio의 운영을 유지하고 HCAd 플랫폼에 투자할 계획이며, 만성 통증 상태에 영향을 미치는 미국인 4명 중 1명에 대한 임상, 규제 및 상업적 역량을 활용할 것입니다.
Pacira BioSciences (PCRX) a acquis la participation restante de 81 % dans GQ Bio Therapeutics pour environ 32 millions de dollars. La transaction comprend 18 millions de dollars payés à la clôture, 8 millions de dollars répartis sur trois ans pour la rétention des employés clés, et une retenue d'indemnité de 6 millions de dollars après la clôture.
L'acquisition renforce la stratégie '5x30' de Pacira pour devenir une organisation biopharmaceutique innovante, ajoutant la plateforme de vecteurs de thérapie génique à adénovirus à haute capacité (HCAd) de GQ Bio. Cette plateforme permet une livraison efficace des médicaments génétiques et prend en charge plusieurs constructions génétiques, en se concentrant particulièrement sur les maladies musculosquelettiques.
L'accord élimine les obligations de paiement de jalons futurs de Pacira pouvant atteindre 64 millions de dollars, y compris un paiement de 4,5 millions de dollars dû pour le début de l'essai clinique de phase 2 de PCRX-201. Pacira prévoit de maintenir les opérations de GQ Bio et d'investir dans la plateforme HCAd, en tirant parti de ses capacités cliniques, réglementaires et commerciales pour traiter les conditions de douleur chronique affectant près d'un Américain sur quatre.
Pacira BioSciences (PCRX) hat die verbleibenden 81% der Anteile an GQ Bio Therapeutics für etwa 32 Millionen Dollar erworben. Die Transaktion umfasst 18 Millionen Dollar, die bei Abschluss gezahlt werden, 8 Millionen Dollar über drei Jahre für die Bindung von Schlüsselmitarbeitern und eine Rücklage von 6 Millionen Dollar nach dem Abschluss.
Die Übernahme stärkt Paciras '5x30'-Strategie, um eine innovative biopharmazeutische Organisation zu werden, und fügt die Hochkapazitäts-Adenovirus (HCAd) Gentherapie-Vektorplattform von GQ Bio hinzu. Diese Plattform ermöglicht eine effiziente Lieferung genetischer Medikamente und unterstützt mehrere Genkonstrukte, wobei der Fokus insbesondere auf muskuloskelettalen Erkrankungen liegt.
Der Deal beseitigt Paciras zukünftige Verpflichtungen zur Zahlung von Meilensteinzahlungen von bis zu 64 Millionen Dollar, einschließlich einer Zahlung von 4,5 Millionen Dollar, die für den Beginn der Phase-2-Studie von PCRX-201 fällig ist. Pacira plant, die Geschäfte von GQ Bio aufrechtzuerhalten und in die HCAd-Plattform zu investieren, um ihre klinischen, regulatorischen und kommerziellen Fähigkeiten zu nutzen, um chronische Schmerzbedingungen zu adressieren, die fast 1 von 4 Amerikanern betreffen.
- Eliminates $64M in future milestone payment obligations
- Acquires valuable HCAd gene therapy platform
- Expands preclinical portfolio in musculoskeletal diseases
- PCRX-201 shows encouraging clinical data in osteoarthritis
- Strengthens R&D capabilities with additional talent
- $32M cash outlay impacts immediate financial position
- $8M additional payment commitment over next 3 years
Insights
Pacira BioSciences' acquisition of the remaining 81% equity stake in GQ Bio for
The acquisition represents vertical integration of a technology Pacira was already invested in, as evidenced by the PCRX-201 program for osteoarthritis which recently advanced to Phase 2 trials. By bringing the HCAd gene therapy platform fully in-house, Pacira gains complete control over its development pipeline while avoiding the
This transaction accelerates Pacira's "5x30" strategic transformation from a specialty pharmaceutical company into an innovation-driven biopharmaceutical organization. The HCAd platform's ability to deliver large and multiple gene constructs locally represents a technological differentiator in the competitive landscape of non-opioid pain management, potentially addressing root causes rather than symptoms.
With chronic pain affecting
While the transaction appears strategically sound, investors should monitor integration progress, R&D expense trajectory, and clinical development timelines as Pacira works to leverage this platform across multiple musculoskeletal indications and potential partnership opportunities outside its core focus.
Pacira's acquisition of GQ Bio's high-capacity adenoviral (HCAd) vector platform represents a technologically differentiated approach to genetic medicine delivery. Unlike conventional adeno-associated viral (AAV) vectors to ~4.7kb of genetic cargo, HCAd vectors can accommodate up to 36kb of genetic material - allowing delivery of larger therapeutic genes or multiple gene constructs simultaneously, a critical advantage for addressing complex musculoskeletal conditions.
The platform's local delivery approach is particularly noteworthy for musculoskeletal applications. By administering genetic payloads directly to affected joints or tissues rather than systemically, this approach potentially mitigates the immunogenicity concerns that have challenged other gene therapy modalities. Local administration may also enable more precise dosing and reduce off-target effects, addressing key safety hurdles that have slowed adoption of genetic medicines.
PCRX-201's advancement to Phase 2 trials for osteoarthritis represents an important clinical validation milestone. The candidate likely delivers therapeutic genes that modulate inflammatory pathways or stimulate cartilage regeneration - addressing disease biology rather than merely masking symptoms as current treatments do.
From a manufacturing perspective, the HCAd platform could offer scalability advantages over other gene therapy vectors. Adenoviral vectors typically yield higher titers in production systems compared to AAV, potentially reducing manufacturing costs and improving commercial viability.
The acquisition positions Pacira competitively against other companies exploring genetic approaches to musculoskeletal conditions, including Flexion Therapeutics (acquired by Pacira in 2021), Bone Therapeutics, and Kolon TissueGene. The full integration of this platform gives Pacira end-to-end control over development, potentially accelerating timelines while reducing dependency on external technology partners.
While promising, investors should recognize the regulatory complexities associated with gene therapy products. Pacira will need to address potential concerns about long-term safety, durability of effect, and manufacturing consistency as programs advance through clinical development.
-- Advances Pacira’s “5x30” path to becoming an innovative biopharmaceutical organization --
-- Adds novel, high-capacity, local-delivery platform for the development of genetic medicines with disease-modifying potential for prevalent musculoskeletal diseases with significant unmet needs --
-- Brings preclinical portfolio and research and development talent --
-- Provides expected near-term and long-term financial benefits with elimination of future milestone payments --
PARSIPPANY, N.J., Feb. 27, 2025 (GLOBE NEWSWIRE) -- Pacira BioSciences, Inc. (Nasdaq: PCRX), the industry leader in its commitment to deliver innovative, non-opioid pain therapies to transform the lives of patients, today announced it has acquired the remaining 81 percent equity stake of GQ Bio Therapeutics GmbH for approximately
GQ Bio is a privately held biopharmaceutical company with a novel, high-capacity, local-delivery platform that makes genetic medicines more efficient and enables the use of large and multiple gene constructs. GQ Bio also brings to Pacira a preclinical portfolio of assets with disease-modifying potential in prevalent musculoskeletal diseases, and research and development talent.
“We are confident that this transaction will enhance our ability to address unmet patient needs, while building on our 5x30 plan to transition into an innovative biopharmaceutical organization,” said Frank D. Lee, chief executive officer of Pacira. “We have seen GQ Bio’s platform generate encouraging clinical data with PCRX-201 in osteoarthritis, underscoring the potential of this novel platform.”
“Beyond the lead indication in osteoarthritis, we believe the HCAd platform has great potential to solidify Pacira as a leading developer of new treatments for musculoskeletal pain and adjacencies by addressing the underlying cause of chronic pain using a targeted molecular approach. With nearly 1 in 4 Americans currently suffering from chronic pain, there is a critical need to address this national epidemic. Additionally, we see great potential for partnering in areas outside of our therapeutic focus to extend the HCAd platform into other conditions of high unmet need where local administration of a genetic medicine is warranted,” continued Mr. Lee.
Transaction Details
Pacira intends to maintain GQ Bio’s operations and invest in its HCAd gene therapy vector platform and innovative products built on the platform, leveraging Pacira’s clinical, regulatory and commercial capabilities.
The transaction provides Pacira with substantial expected financial benefits by eliminating its obligations for up to
About the HCAd Platform
GQ Bio’s HCAd vector platform solves many of the challenges in the field of genetic medicine that have prevented its utilization in treating common diseases like osteoarthritis. Key features include:
- The HCAd vector is much more efficient at delivering genes into cells compared to many other gene therapies that rely on adenovirus associated virus, or AAV, vectors. As a result, the desired effect can be achieved with much smaller doses.
- The vector used in the HCAd platform can carry up to 30,000 base pairs of DNA, which enables gene therapy with multiple or larger genes compared to AAV vectors.
- Genetic medicines based on the HCAd platform can be administered locally and have the potential for redosing at therapeutically appropriate intervals.
- Lower dose levels and efficient delivery of genes into cells means that thousands of doses can be produced in a single batch. As a result, therapies built on the HCAd platform are expected to have a commercially attractive and viable cost of goods profile.
About the HCAd Pipeline
Pacira’s novel product candidate PCRX-201 (enekinragene inzadenovec), originally developed by GQ Bio, features an innovative HCAd-based design. PCRX-201 is in clinical development for osteoarthritis of the knee. PCRX-201 is injected locally into the knee joint to boost cellular production of interleukin-1 receptor antagonist (IL-1Ra) and block IL-1 pathway activation, significantly reducing chronic inflammation. PCRX-201’s unique design also features an inflammation-responsive promoter to only produce IL-1Ra when needed, mimicking how the body naturally responds to inflammation.
At the American College of Rheumatology meeting in November 2024, Pacira reported promising data from a large Phase 1 study in which PCRX-201 provided sustained improvements in knee pain, stiffness, and function through two years following local administration, with a well-tolerated safety profile. The Company is preparing to initiate a randomized, double-blind Phase 2 study of PCRX-201 for the treatment of osteoarthritis of the knee which recently opened for enrollment.
In addition to preclinical product candidates based on the HCAd vector platform, the two companies have identified numerous well-validated cytokines that could be the basis for additional locally administered genetic therapies using the HCAd platform.
About Pacira
Pacira delivers innovative, non-opioid pain therapies to transform the lives of patients. Pacira has three commercial-stage non-opioid treatments: EXPAREL® (bupivacaine liposome injectable suspension), a long-acting local analgesic currently approved for infiltration, fascial plane block, and as an interscalene brachial plexus nerve block, an adductor canal nerve block, and a sciatic nerve block in the popliteal fossa for postsurgical pain management; ZILRETTA® (triamcinolone acetonide extended-release injectable suspension), an extended-release, intra-articular injection indicated for the management of osteoarthritis knee pain; and iovera®º, a novel, handheld device for delivering immediate, long-acting, drug-free pain control using precise, controlled doses of cold temperature to a targeted nerve. The Company is also advancing the development of PCRX-201, a novel, locally administered gene therapy with the potential to treat large prevalent diseases like osteoarthritis. To learn more about Pacira, visit www.pacira.com.
About GQ Bio Therapeutics GmbH
GQ Bio is pioneering a high-capacity adenovirus (HCAd) gene therapy vector platform that addresses some of the big challenges in the gene therapy field: Transfer of large and multiple genes with a single vector, highly efficient gene delivery (high transduction efficiency), and large-scale manufacturability. Based on its HCAd vector platform, GQ Bio develops transformative treatments for chronic, prevalent conditions such as osteoarthritis and intervertebral disc degeneration. GQ Bio is headquartered in Hamburg, Germany and has sites at Luckenwalde (greater Berlin area), Germany, as well as Eupen and Liège, Belgium. To learn more about GQ Bio, visit www.gq-biotx.com.
Forward-Looking Statements
Any statements in this press release about Pacira’s future expectations, plans, trends, outlook, projections and prospects, and other statements containing the words “believes,” “anticipates,” “plans,” “estimates,” “expects,” “intends,” “may,” “will,” “would,” “could,” “can” and similar expressions, constitute forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), and the Private Securities Litigation Reform Act of 1995, including, without limitation, statements related to: ‘5x30’, our growth and business strategy, our future outlook, contributions of new directors and executives, our intellectual property and patent terms, the acquisition of GQ Bio and the anticipated benefits thereof, our growth and future operating results and trends, our strategy, plans, objectives, expectations (financial or otherwise) and intentions, and future financial results and growth potential, including our plans with respect to the repayment of our indebtedness, anticipated product portfolio, development programs, development of products, strategic alliances, and the Non-Opioids Prevent Addiction in the Nation (“NOPAIN”) Act and other statements that are not historical facts. For this purpose, any statement that is not a statement of historical fact should be considered a forward-looking statement. We cannot assure you that our estimates, assumptions and expectations will prove to have been correct. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors, including risks relating to, among others: the failure to realize the anticipated benefits and synergies from the acquisition of GQ Bio; the ability to successfully integrate GQ Bio into our existing business; the commercial success of GQ Bio’s high-capacity adenovirus gene therapy vector platform; future opportunities and plans for GQ Bio and its product candidates, including uncertainty of the expected financial performance of GQ Bio and its product candidates; disruption from the acquisition of GQ Bio, making it more difficult to conduct business as usual or maintain relationships with customers, employees or suppliers; the possibility that if we do not achieve the perceived benefits of the transaction as rapidly or to the extent anticipated by financial analysts or investors, the market price of our common stock could decline; risks associated with acquisitions, such as the risk that the acquired businesses will not be integrated successfully, that such integration may be more difficult, time-consuming or costly than expected or that the expected benefits of the transaction will not occur; our manufacturing and supply chain, global and U.S. economic conditions (including inflation and rising interest rates), and our business, including our revenues, financial condition, cash flow and results of operations; the success of our sales and manufacturing efforts in support of the commercialization of EXPAREL, ZILRETTA and iovera°; the rate and degree of market acceptance of EXPAREL, ZILRETTA and iovera°; the size and growth of the potential markets for EXPAREL, ZILRETTA and iovera° and our ability to serve those markets; our plans to expand the use of EXPAREL, ZILRETTA and iovera° to additional indications and opportunities, and the timing and success of any related clinical trials for EXPAREL, ZILRETTA and iovera°; the commercial success of EXPAREL, ZILRETTA and iovera°; the related timing and success of U.S. Food and Drug Administration supplemental New Drug Applications and premarket notification 510(k)s; the related timing and success of European Medicines Agency Marketing Authorization Applications; our plans to evaluate, develop and pursue additional product candidates utilizing our proprietary multivesicular liposome (“pMVL”) drug delivery technology; the approval of the commercialization of our products in other jurisdictions; clinical trials in support of an existing or potential pMVL-based product; our commercialization and marketing capabilities; our ability to successfully complete capital projects; the outcome of any litigation; the recoverability of our deferred tax assets; assumptions associated with contingent consideration payments; assumptions used for estimated future cash flows associated with determining the fair value of the Company; the anticipated funding or benefits of our share repurchase program; and factors discussed in the “Risk Factors” of our most recent Annual Report on Form 10-K and in other filings that we periodically make with the Securities and Exchange Commission (the “SEC”). In addition, the forward-looking statements included in this press release represent our views as of the date of this press release. Important factors could cause actual results to differ materially from those indicated or implied by forward-looking statements, and as such we anticipate that subsequent events and developments will cause our views to change. Except as required by applicable law, we undertake no intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, and readers should not rely on these forward-looking statements as representing our views as of any date subsequent to the date of this press release.
These forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance or achievements to differ materially from those expressed or implied by these statements. These factors include the matters discussed and referenced in the “Risk Factors” of our most recent Annual Report on Form 10-K and in other filings that we periodically make with the SEC.
FAQ
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