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UCB to Acquire Ra Pharmaceuticals to Improve Treatment Options for Myasthenia Gravis
Friday 11 October 2019

11 October 2019 - Brussels, Belgium-based biopharmaceutical company UCB has agreed to merge with Massachusetts, US-based clinical-stage biopharmaceutical company Ra Pharmaceuticals Inc. (NASDAQ: RARX), the company said.
Under the terms of the agreement, Ra Pharma shareholders will receive USD 48 in cash for each Ra Pharma share at closing or approximately USD 2.5bn, which represents a transaction value of approximately USD 2.1bn, net of Ra Pharma cash.
The acquisition of Ra Pharma will be financed by a combination of existing cash resources and new bank term loans, arranged and underwritten by BNP Paribas Fortis and Bank of America Merrill Lynch.
Ra Pharma is a leveraging a proprietary peptide chemistry platform to develop novel therapeutics for the treatment of serious diseases caused by excessive or uncontrolled activation of the complement system, a critical component of the innate immune system.
In December 2018, Ra Pharma announced positive top-line results from a phase 2 trial of zilucoplan in patients with generalised myasthenia gravis, achieving clinically meaningful and statistically significant reductions in both primary and key secondary endpoints. 
The addition of Ra Pharma's 'pipeline in a product' investigational peptide C5 inhibitor zilucoplan alongside UCB's anti-FcRn rozanolixizumab, could create an opportunity to provide more people living with myasthenia gravis with better treatment options.
Ra Pharmaceuticals Inc. is a clinical-stage biopharmaceutical company focussed on leading the field of complement biology to bring innovative and accessible therapies to patients with rare diseases. RA Pharma discovers and develops peptides and small molecules to target key components of the complement cascade.
UCB, Brussels, Belgium is a global biopharmaceutical company focussed on the discovery and development of innovative medicines and solutions to transform the lives of people living with severe diseases of the immune system or of the central nervous system.
Bank of America Merrill Lynch and Lazard are acting as financial advisors to UCB in relation to the transaction. Covington and Burling LLP is acting as legal advisor to UCB on this transaction.
Centerview Partners is acting as exclusive financial advisor to Ra Pharma on this transaction. Latham and Watkins LLP is acting as legal advisor to Ra Pharma on this transaction.
Date Published: 11/10/2019
Target: Ra Pharmaceuticals Inc
Country: USA
Deal Size: 2.1bn (USD)
Sector: Pharmaceuticals
Type: Corporate acquisition
Financing: Cash
Status: Agreed
Buyer: UCB
Buyer Advisor: Bank of America Merrill Lynch , Lazard , Covington and Burling