Roche has agreed to acquire American biotech 89bio in a transaction worth up to $3.5 billion, as it looks to expand its pipeline of treatments for liver and cardiometabolic diseases.
The Swiss pharmaceutical group said the deal values 89bio at $2.4 billion upfront, with an additional $1.1 billion tied to milestone payments.
The takeover centres on pegozafermin, 89bio’s lead drug candidate, which is in late-stage trials for metabolic dysfunction-associated steatohepatitis, also known as fatty liver disease.
Roche will pay $14.50 per share in cash plus up to $6.00 in contingent rights.
The move extends Roche’s push into weight-loss and related therapies, following billion-dollar deals with Zealand Pharma earlier this year and Carmot Therapeutics in 2023.
Shares of 89bio surged 87% to about $15 pre-market.