Therapy Areas: Oncology
Ono announces tender offer results for Deciphera Pharmaceuticals acquisition and completion of acquisition
12 June 2024 -

Ono Pharmaceutical, Co, Ltd, a Japan-based pharmaceutical company, announced on Tuesday that it has successfully completed the tender offer, previously announced on 30 April 2024 to acquire all outstanding shares of common stock of a US biopharmaceutical company, Deciphera Pharmaceuticals Inc (Nasdaq: DCPH).

The acquisition was carried out for USD25.60 per share (total amount of approximately USD2.4bn) net to the seller in cash, without interest thereon and less any applicable withholding taxes, through its wholly owned subsidiary, Topaz Merger Sub Inc (Merger Sub), established in the State of Delaware, United States, solely for the purpose of engaging in the transactions contemplated in the Merger Agreement.

The tender offer commenced on 13 May 2024, New York City time, and, as set forth below, expired at one minute after 11:59 p.m., New York City time, on 10 June 2024.

On 11 June 2024, following the completion of the tender offer, Merger Sub merged with and into Deciphera with Deciphera continuing as the surviving corporation and a wholly owned subsidiary of Ono. In connection with the acquisition, Deciphera shares ceased to be traded on Nasdaq as of the date of closing of the acquisition and shares of Deciphera's common stock will be delisted from Nasdaq.

"We are very pleased to welcome Deciphera into the family,' said Gyo Sagara, Ono chairman and CEO. "Through this acquisition, we will leverage Deciphera's excellent research and development capabilities in the oncology field and its sales power in Europe and the United States, and work to further accelerate the expansion of our pipeline and global expansion, which are part of our growth strategies."

"We are excited to enter a new phase as part of the family of Ono Pharmaceuticals, that has as its mission to contribute to society through the discovery and development of innovative drugs, under the corporate philosophy "Dedicated to the Fight against Disease and Pain," said Steven L. Hoerter, Deciphera president and CEO. 'By fully leveraging the research and development capabilities and commercialisation platforms of both companies, we look forward to significantly contributing to the growth of the Ono Group as a global specialty pharma company."