M&A Deal Summary

HBM Partners AG and Bristol-Myers Squibb Acquire Turning Point Therapeutics

On June 3, 2022, private equity firm HBM Partners AG and Bristol-Myers Squibb acquired life science company Turning Point Therapeutics for 4.1B USD

Acquisition Highlights
  • This is HBM Partners AG’s 54th and Bristol-Myers Squibb’s 20th transaction in the Life Science sector.
  • This is HBM Partners AG’s and Bristol-Myers Squibb’s 8th largest (disclosed) transaction.
  • This is HBM Partners AG’s 43rd and Bristol-Myers Squibb’s 17th transaction in the United States.
  • This is HBM Partners AG’s 17th and Bristol-Myers Squibb’s 7th transaction in California.

M&A Deal Summary

Date 2022-06-03
Target Turning Point Therapeutics
Sector Life Science
Buyer(s) HBM Partners AG
Bristol-Myers Squibb
Deal Type Add-on Acquisition
Deal Value 4.1B USD
Advisor(s) Goldman Sachs (Financial)
Cooley LLP (Legal)

Target

Turning Point Therapeutics

San Diego, California, United States
website
Turning Point Therapeutics is a clinical-stage precision oncology company with a pipeline of investigational drugs designed to address key limitations of existing cancer therapies. The company’s lead drug candidate, repotrectini, is a next-generation kinase inhibitor targeting the ROS1 and TRK oncogenic drivers of non-small cell lung cancer and advanced solid tumors. Turning Point Therapeutics was formed in 2013 and is based in San Diego, California.

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Buyer(S) 2

Buyer

HBM Partners AG

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 2001
PE ASSETS 3.0B USD
Size Mega
Type Sector Focused
DESCRIPTION

HBM Partners is a private investment firm focused on investing in entrepreneurial biopharma and other healthcare-related companies in Europe, North America, India and other Emerging Markets. HBM looks to invest $5 to $50 million per transaction and will consider private and public companies. HBM Partners was established in 2001 and is headquartered in Zug, Switzerland.


DEAL STATS #
Overall 64 of 65
Sector (Life Science) 54 of 55
Type (Add-on Acquisition) 2 of 2
State (California) 17 of 17
Country (United States) 43 of 44
Year (2022) 3 of 4
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-03-28 Aculys Pharma

Minato-ku, Japan

Aculys Pharma is a biopharmaceutical company focused on the development and commercialization of innovations in the fields of neurology and psychiatry. Aculys Pharma was founded in 2021 and is based in Minato-ku, Japan.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-06-08 Mineralys Therapeutics

Radnor, Pennsylvania, United States

Mineralys is a clinical-stage biopharmaceutical company focused on developing medicines to target diseases driven by abnormally elevated aldosterone. Its initial product candidate, lorundrostat, is a proprietary, orally administered, highly selective aldosterone synthase inhibitor that the company is initially developing for the treatment of patients with uncontrolled hypertension. Mineralys Therapeutics was founded in 2020 and is based in Radnor, Pennsylvania.

Buy -
Buyer

Bristol-Myers Squibb

New York, New York, United States

website


Category Company
Founded 1887
Sector Life Science
Employees32,200
Revenue 46.2B USD (2022)
DESCRIPTION

Bristol-Myers Squibb is a life science company engaged in the discovery, development, licensing, manufacturing, marketing, distribution and sale of biopharmaceutical products on a global basis. The Company's pharmaceutical products include chemically-synthesized drugs, or small molecules, and an increasing portion of products produced from biological processes. The majority of Bristol-Myers Squibb's revenue comes from products in the following therapeutic classes: cardiovascular; virology, including human immunodeficiency virus (HIV) infection; oncology; neuroscience; immunoscience; and metabolics. Bristol-Myers Squibb was incorporated in 1887 and is based in New York City.


DEAL STATS #
Overall 20 of 23
Sector (Life Science) 20 of 23
Type (Add-on Acquisition) 19 of 21
State (California) 7 of 9
Country (United States) 17 of 20
Year (2022) 1 of 1
Size (of disclosed) 8 of 19
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-08-03 Bristol-Myers Squibb - Drug Product Manufacturing Facility

Couvet, Switzerland

Bristol-Myers Squibb Co.'s Drug Product Manufacturing Facility provides flexible state-of-the-art tablet & capsule manufacturing and packaging services.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-10-08 Mirati Therapeutics

San Diego, California, United States

Mirati Therapeutics is a commercial-stage biotechnology company whose mission is to discover, design, and deliver breakthrough therapies to transform the lives of patients with cancer and their loved ones. The company is relentlessly focused on bringing forward therapies that address areas of high unmet need, including lung cancer, and advancing a pipeline of novel therapeutics targeting the genetic and immunological drivers of cancer. Mirati Therapeutics is based in San Diego, California.

Buy $4.8B