Pfizer Inc on Monday announced that the company is all set to acquire Trillium Therapeutics Inc in a deal worth $2.3 billion.
Pfizer Inc (NYSE: PFE) which had previously acquired $25 million worth of stake in Trillium has announced that they will be purchasing the remainder of Trillium’s shares for $18.50. Furthermore, the following move will represent a 203% premium on the stock’s closing price.
Trillium Therapeutics Inc, which is headquartered in Canada is one of the leading immuno-oncology companies that specialize in developing therapies and trials to cure cancer and problems related to the immune system.
Pfizer Inc to Acquire Trillium Therapeutics in a Deal Worth $2.3 Billion
Pfizer Inc expects to secure a credible profit margin by making extensive use of Trillium’s blood cancer drug commonly referred to as “don’t eat me”. The drug aims and utilizes the “don’t eat me” signal used by cancer signals that intend to evade the immune system of the human body. The process involves CD47 which plays an important role in sending a signal to macrophages with the assistance of SIRPa, which in turn allows the cancer cells to avoid interacting with the immune system. Trillium has been involved in developing drugs and cures that could potentially help detect cancer cells and destroy them to protect their spread and lower fatality rates.
Trillium Therapeutics Inc spans a diverse portfolio that comprises trials of various drugs and solutions that are designed to amplify the inherent quality of the immune system to identify and later destroy cancer-causing cells. Dr. Jan Svarka, chief executive officer at Trillium has commented that they are delighted to have a proposed agreement with Pfizer Inc.
Following a similar trajectory, Forty Seven Inc which is also a company that develops and designs drugs to counter cancer-causing cells was also acquired by Gilead Sciences Inc (NASDAQ: GILD) for $4.9 billion last year.
According to data analyzed via multiple sources, it has been noticed that in the year 2020, more than one million people in the world were battling blood cancer while approximately 700,000 deaths were reported from a form of blood cancer that was documented in patients across the globe.
Trillium Therapeutics’ US-listed shares were previously recorded at a market price of $17.73. Pfizer had bought 2.3 million shares of Trillium for $10.88 in September. The particular financial transaction has been led by BofA Securities Inc as financial advisors for Pfizer while Trillium Therapeutics was financially advised by Centerview Partners LLC.