M&A Deal Summary

Genzyme Acquires ILEX Oncology

On December 21, 2004, Genzyme acquired life science company ILEX Oncology from Alta Partners, Nexus Life Science Partners, Perseus and Boston Millennia Partners for 1.0B USD

Acquisition Highlights
  • This is Genzyme’s 5th transaction in the Life Science sector.
  • This is Genzyme’s largest (disclosed) transaction.
  • This is Genzyme’s 7th transaction in the United States.
  • This is Genzyme’s 1st transaction in Texas.

M&A Deal Summary

Date 2004-12-21
Target ILEX Oncology
Sector Life Science
Buyer(s) Genzyme
Sellers(s) Alta Partners
Nexus Life Science Partners
Perseus
Boston Millennia Partners
Deal Type Add-on Acquisition
Deal Value 1.0B USD

Target

ILEX Oncology

San Antonio, Texas, United States
ILEX Oncology, Inc. is a drug development company focused exclusively on the accelerated development of drugs for the treatment and prevention of cancer. ILEX Oncology was founded in 1992 and is based in San Antonio, Texas.

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Buyer(S) 1

Buyer

Genzyme

Cambridge, Massachusetts, United States

website


Category Company
Founded 1981
Sector Life Science
DESCRIPTION
Genzyme laboratory in Framingham, Massachusetts.
Genzyme laboratory in Framingham, Massachusetts.

Genzyme is a global biotech company. Genzyme's products and services are focused on rare inherited disorders, kidney disease, orthopaedics, cancer, transplant and immune disease. Genzyme was formed in 1981 and is based in Cambridge, Massachusetts.


DEAL STATS #
Overall 7 of 12
Sector (Life Science) 5 of 9
Type (Add-on Acquisition) 6 of 10
State (Texas) 1 of 1
Country (United States) 7 of 9
Year (2004) 1 of 1
Size (of disclosed) 1 of 9
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2003-09-10 SangStat Medical

Fremont, California, United States

SangStat Medical Corp. is a biotechnology company focused on immunology and working to discover, develop and market high value therapeutic products in the autoimmune, hematology/oncology and immunosuppression areas.

Buy $600M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2005-02-28 Verigen AG

Leverkusen, Germany

Verigen AG, a private company based in Germany with a proprietary cell therapy product for cartilage repair currently sold in Europe and Australia.

Buy -

Seller(S) 4

SELLER

Alta Partners

Jackson, Wyoming, United States

Investor Investor Investor Investor

website


Category Venture Capital Firm
Founded 1996
PE ASSETS 2.6B USD
Size Large
Type Sector Focused
DESCRIPTION

Alta Partners is a venture capital firm that targets investments in early and later stage life science companies, including biopharmaceuticals, medical technology, and information technology businesses. Alta was formed as an early stage investor but has since expanded its investment range to provide later stage growth capital to private and young public companies. Alta was established in 1996 and is headquartered in San Francisco, California.


DEAL STATS #
Overall 19 of 84
Sector (Life Science) 10 of 64
Type (Add-on Acquisition) 12 of 45
State (Texas) 1 of 2
Country (United States) 18 of 74
Year (2004) 6 of 6
Size (of disclosed) 3 of 23
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2004-12-10 Definity Health

St. Louis Park, Minnesota, United States

Definity Health, founded in 1999, is a provider in consumer-driven health benefit programs.

Sell $300M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2005-01-01 Silence Therapeutics

London, United Kingdom

Silence Therapeutics is developing a new generation of medicines by harnessing the body's natural mechanism of RNA interference, or RNAi, within its cells. Silence Therapeutics Plc proprietary technology can selectively inhibit any gene in the genome, specifically silencing the production of disease-causing proteins. Using its enabling delivery systems, Silence Therapeutics Plc has achieved an additional level of specificity by delivering its therapeutic RNA molecules exclusively to target cells. Silence Therapeutics is based in London, the United Kingdom.

Sell -
SELLER

Nexus Life Science Partners

New York, New York, United States

website


Category Growth Capital Firm
Founded 2001
Size Small
Type Sector Focused
DESCRIPTION

Nexus Life Science Partners is a private equity firm that targets private and public healthcare companies located within the United States and around the world. The Firm's focus is on the growth segments of the healthcare industry. In particular, Nexus looks for product-driven life sciences companies developing breakthrough therapeutics for clinical needs, positively altering disease course and associated costs. The firm seeks for each private investment a potential for liquidity within 24 months after initial investment, as well as a 2-3 times return on invested capital. Nexus Life Science Partners was formed in 2001, and is based in New York, New York.


DEAL STATS #
Overall 3 of 22
Sector (Life Science) 3 of 18
Type (Add-on Acquisition) 1 of 10
State (Texas) 1 of 1
Country (United States) 3 of 19
Year (2004) 2 of 2
Size (of disclosed) 3 of 9
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2004-02-27 Pharmacopeia

Cranbury, New Jersey, United States

Pharmacopeia, Inc. is a Drug Discovery identifying and developing small molecule drug candidates, with a primary focus on immunological diseases.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2005-07-20 Guilford Pharmaceuticals

Baltimore, Maryland, United States

Guilford Pharmaceuticals discovered, developed and marketed pharmaceutical products, targeting the hospital and neurological markets. The company was acquired by MGI Pharma (Nasdaq: MOGN), an oncology and acute care focused biopharmaceutical company

Sell -
SELLER

Perseus

Washington, District of Columbia, United States

website


Category Private Equity Firm
Founded 1995
PE ASSETS 2.0B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Perseus is a private equity firm focused on middle-market buyouts, recapitalizations, and growth equity investments. Perseus looks businesses operating with proven management, strong brands, and 'powerful intellectual property'. Sectors of interest include biotechnology, medical devices, branded consumer products, business services, information technology, communications, and energy/environmental service companies. Perseus was formed in 1995 and maintains offices in Washington DC, New York City, and Munich.


DEAL STATS #
Overall 13 of 27
Sector (Life Science) 5 of 5
Type (Add-on Acquisition) 11 of 20
State (Texas) 2 of 2
Country (United States) 12 of 24
Year (2004) 1 of 1
Size (of disclosed) 1 of 8
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2004-07-21 Cardiac Science

Waukesha, Wisconsin, United States

Cardiac Science Corp. is a developer, manufacturer, and marketer of advanced diagnostic and therapeutic cardiology devices and systems, including automated external defibrillators (AEDs), electrocardiograph devices (ECGs), cardiac stress systems and treadmills, Holter monitoring systems, hospital defibrillators, cardiac rehabilitation telemetry systems, and cardiology data management systems (informatics) that connect with hospital information (HIS), electronic medical record (EMR), and other information systems. Cardiac Science Corp. was founded in 1913 and is based in Waukesha, Wisconsin.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2005-04-07 MTN Satellite Communications

Miramar, Florida, United States

MTN Satellite Communications, Inc. is a provider of communications and content services for remote locations around the world.

Buy $110M
DESCRIPTION

Boston Millenia Partners is a growth capital investment firm focused rapidly growing business services and healthcare companies. The Firm generally looks to invest $3 to $10 million in companies at or near profitability with $3 to $30 million in sales. Boston Millenia's geographic preference is for opportunities in the Eastern half of the US. Boston Millenia Partners was formed in 1984 and has a single office in Boston.


DEAL STATS #
Overall 1 of 15
Sector (Life Science) 1 of 4
Type (Add-on Acquisition) 1 of 10
State (Texas) 1 of 1
Country (United States) 1 of 15
Year (2004) 1 of 1
Size (of disclosed) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2003-10-29 Arthrosurface

Franklin, Massachusetts, United States

Arthrosurface, Inc. is a provider of joint surface and preservation solutions for active patients. Arthrosurface was founded in 2001 and is based in Franklin, Massachusetts.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2005-02-22 V-SPAN

King of Prussia, Pennsylvania, United States

V-SPAN, Inc. is a provider of premium conferencing services to businesses. V-SPAN's services include video conference bridging (integrating two or more video conference participants into a single video output), automated audio conferencing, document web conferencing, Internet streaming and storage, and other related premium conferencing services. V-SPAN was founded in 1995 and is based in King of Prussia, Pennsylvania.

Sell -