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M&A Deal Summary

Coherus Biosciences Acquires Surface Oncology

On June 16, 2023, Coherus Biosciences acquired life science company Surface Oncology for 65M USD

Acquisition Highlights
  • This is Coherus Biosciences’ 1st transaction in the Life Science sector.
  • This is Coherus Biosciences’ largest (disclosed) transaction.
  • This is Coherus Biosciences’ 1st transaction in the United States.
  • This is Coherus Biosciences’ 1st transaction in Massachusetts.

M&A Deal Summary
Date 2023-06-16
Target Surface Oncology
Sector Life Science
Buyer(s) Coherus Biosciences
Deal Type Merger
Deal Value 65M USD
Advisor(s) Wedbush Securities (Financial)
Goodwin Procter (Legal)

Target

Surface Oncology

Cambridge, Massachusetts, United States
Surface Oncology is an immuno-oncology company developing next-generation antibody therapies focused on the tumor microenvironment. Its pipeline includes two wholly-owned programs: SRF388, a Phase 2 program targeting IL-27, and SRF114, a Phase 1 program that selectively depletes regulatory T cells in the tumor microenvironment via targeting CCR8. Surface Oncology was founded in 2014 and is based in Cambridge, Massachusetts.

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Buyer(S) 1

Buyer

Coherus Biosciences

Redwood City, California, United States
Category Company
Founded 2010
Sector Life Science
Employees228
Revenue 267M USD (2024)
DESCRIPTION

Coherus Biosciences is a biotechnology company focused on developing products. Coherus BioSciences was founded in 2010 and is based in Redwood City, California.

DEAL STATS #
Overall 1 of 1
Sector: Life Science M&A 1 of 1
Type: Merger M&A Deals 1 of 1
State: Massachusetts M&A 1 of 1
Country: United States M&A 1 of 1
Year: 2023 M&A 1 of 1
Size (of disclosed) 1 of 1
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-03-04 Cimerli

Redwood City, California, United States

Cimerli is a vascular endothelial growth factor (VEGF) inhibitor, is indicated for the treatment of patients with Neovascular (Wet) Age-Related Macular Degeneration (AMD), Macular Edema Following Retinal Vein Occlusion (RVO), Diabetic Macular Edema (DME), Diabetic Retinopathy (DR), Myopic Choroidal Neovascularization (mCNV). Cimerli is based in Redwood City, California.

Sell $170M
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