Assertio rejects Garda bid, accepts Zydus offer valuing company at $23.50 per share
Assertio Holdings announced it has terminated its pending acquisition by Garda Therapeutics after the board approved a higher offer from another suitor.
The new proposal from Zydus Worldwide values Assertio at $23.50 per share, roughly $166.4 million in total, representing about a 31 percent premium over Garda’s earlier bid. The transaction is cash‑only, carries no financing contingencies and is slated to close in the second quarter.
In related biotech news, AI‑driven drug discovery firm Isomorphic Labs disclosed a $2.1 billion Series B financing round, while Kyverna Therapeutics is preparing a novel regulatory filing and AC Immune reported a CEO transition.
This writeup was produced by pharmadog from original reporting by BioPharma Dive.
Original headline: “Assertio accepts new buyout bid; AI biotech Isomorphic banks $2B”
read at BioPharma Dive ↗
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