SciClone sold for $605 Million

SciClone Pharmaceuticals provides therapies for oncology, infectious diseases, and cardiovascular disorders

It’s lead product is ZADAXIN, which is used for the treatment of hepatitis B and hepatitis C viruses

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#SciClone Pharmaceuticals $SCLN and a consortium consisting of entities affiliated with GL Capital Management GP Limited, Bank of China Group Investment Limited, or BOCGI, CDH Investments, Ascendent Capital Partners and Boying announced that they have entered into a definitive merger agreement under which the Buyer Consortium will acquire all the outstanding shares of SciClone for $11.18 per share in cash.

SciClone Pharmaceuticals, Inc. provides therapies for oncology, infectious diseases, and cardiovascular disorders in the People’s Republic of China, the United States, and Hong Kong. Its lead product is #ZADAXIN, which is used for the treatment of hepatitis B and hepatitis C viruses, and certain cancers, as well as for use as an immune system enhancer.

The transaction will be funded by the Buyer Consortium through a combination of equity financing to be provided by the Buyer Consortium and debt financing, and is not subject to a financing condition.

The transaction, which was unanimously approved by SciClone’s board, values the company at approximately $605M, on a fully diluted basis, and represents a premium of 11% over SciClone’s closing stock price on June 7, 2017 and a premium of 16% over its ten-day volume-weighted average closing stock price.

The transaction, which is expected to close this calendar year, is subject to approval by SciClone stockholders and other customary closing conditions.

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