Jan. 20 Quick Takes: Beam adds $260M; plus Lilly-Merus, Thermo Fisher-Mesa, Verve, Aclaris, ViGeneron-Daiichi Sankyo
Crossover investors supplied Beam Therapeutics Inc. (NASDAQ:BEAM) with $260 million in a private placement early Tuesday, purchasing 2.8 million shares at $93. The price is an 18% discount to Beam’s closing price Friday of $113.04. The syndicate included Perceptive Advisors, Farallon Capital, Casdin Capital, Redmile Group and Cormorant Asset Management. Beam gained 232% during 4Q20 as investors’ interest in gene editing rose; it has added a further 25% thus far in January.
Lilly, Merus forge bispecifics agreement
Eli Lilly and Co. (NYSE:LLY) and Merus N.V. (NASDAQ:MRUS) entered a deal in which the partners will discover and develop up to three CD3-engaging, T cell redirecting bispecific antibodies using Merus’ Biclonics platform. Merus will receive $60 million up front, including a $20 million equity investment, and is eligible for $540 million in milestones per product, plus royalties...