M&A Deal Summary

Lilly Acquires Avid Radiopharmaceuticals

On November 8, 2010, Lilly acquired life science company Avid Radiopharmaceuticals from Alta Partners and Safeguard for 300M USD

Acquisition Highlights
  • This is Lilly’s 9th transaction in the Life Science sector.
  • This is Lilly’s 15th largest (disclosed) transaction.
  • This is Lilly’s 14th transaction in the United States.
  • This is Lilly’s 1st transaction in Pennsylvania.

M&A Deal Summary

Date 2010-11-08
Target Avid Radiopharmaceuticals
Sector Life Science
Buyer(s) Lilly
Sellers(s) Alta Partners
Safeguard
Deal Type Add-on Acquisition
Deal Value 300M USD
Advisor(s) Morgan Stanley (Financial)

Target

Avid Radiopharmaceuticals

Philadelphia, Pennsylvania, United States
Avid Radiopharmaceuticals, Inc. is a provider of novel molecular imaging compounds intended for the detection and monitoring of chronic human diseases. Avid Radiopharmaceuticals, Inc. was formed in 2004 and is based in Philadelphia, Pennsylvania.

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Buyer(S) 1

Buyer

Lilly

Indianapolis, Indiana, United States

Category Company
Founded 1876
Sector Life Science
Employees43,000
Revenue 34.1B USD (2023)
DESCRIPTION
Entrance to Eli Lilly's campus in Indianapolis, Indiana.
Entrance to Eli Lilly's campus in Indianapolis, Indiana.

Lilly discovers, develops, manufactures, and markets products in two business segments—human pharmaceutical products and animal health products. The mission of its human pharmaceutical business is to make medicines that help people live longer, healthier, more active lives. Most of the products Eli Lilly sells were discovered or developed by its own scientists, and the Company's success depends to a great extent on its ability to continue to discover, develop, and bring to market innovative new medicines. Eli Lilly's animal health business, operating through its Elanco division, develops, manufactures, and markets products for both food animals and companion animals. Eli Lilly manufactures and distributes its products through facilities in the US, Puerto Rico, and 11 other countries. Lilly was founded in 1876 and is based in Indianapolis, Indiana.


DEAL STATS #
Overall 15 of 34
Sector (Life Science) 9 of 27
Type (Add-on Acquisition) 13 of 27
State (Pennsylvania) 1 of 1
Country (United States) 14 of 29
Year (2010) 2 of 2
Size (of disclosed) 15 of 20
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2010-07-02 Alnara Pharmaceuticals

Cambridge, Massachusetts, United States

Alnara Pharmaceuticals, Inc., a privately held biotechnology company developing protein therapeutics for the treatment of metabolic diseases. Alnara's lead product in development is liprotamase, a non-porcine pancreatic enzyme replacement therapy (PERT). Liprotamase is under review by the U.S. Food and Drug Administration for the treatment of exocrine pancreatic insufficiency (EPI). Causes of EPI include cystic fibrosis, chronic pancreatitis, pancreatectomy and other conditions.

Buy $180M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2013-04-17 Siemens Medical Solutions - Two Investigational Positron

United States

Siemens Medical Solutions - Two Investigational Positron Emission Tomography (PET) Tracers comprises two investigational positron emission tomography (PET) tracers, intended to image the neurofibrillary tangles in the brain for the diagnostics of Alzheimer's disease.

Buy -

Seller(S) 2

SELLER

Alta Partners

Jackson, Wyoming, United States

Investor Investor Investor Investor


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 46 of 84
Sector (Life Science) 31 of 64
Type (Add-on Acquisition) 31 of 45
State (Pennsylvania) 2 of 4
Country (United States) 39 of 74
Year (2010) 5 of 5
Size (of disclosed) 13 of 23
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2010-10-22 Aegerion Pharmaceuticals

Cambridge, Massachusetts, United States

Aegerion Pharmaceuticals, Inc. is a specialty pharmaceutical company focused on the development and commercialization of pharmaceutical products to treat cardiovascular and metabolic diseases. Aegerion Pharmaceuticals, Inc. was formed in 2005 and is headquartered in Cambridge, Massachusetts.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2011-01-31 Taligen Therapeutics

Cambridge, Massachusetts, United States

Taligen is a development stage biotechnology company focused on the treatment of serious inflammatory diseases including asthma, macular degeneration and immune kidney disease.

Sell $111M
SELLER

Safeguard

Radnor, Pennsylvania, United States

Category Company
Sector Financial Services
Employees30
Revenue 6M USD (2023)
DESCRIPTION

Safeguard is a provider of capital and operational expertise to emerging and growth-stage healthcare and technology enterprises that are developing innovative products and services.


DEAL STATS #
Overall 2 of 9
Sector (Life Science) 1 of 3
Type (Add-on Acquisition) 1 of 3
State (Pennsylvania) 1 of 3
Country (United States) 2 of 9
Year (2010) 1 of 1
Size (of disclosed) 2 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2008-09-16 NextPoint Networks

Gaithersburg, Maryland, United States

NextPoint Networks, Inc. is a provider of security solutions, including Session Border Controllers (SBC) and Security Gateways (SeG) for Fixed Mobile Convergence (FMC) solutions.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2011-02-16 ThingWorx

Exton,, Pennsylvania, United States

ThingWorx, Inc. is a provider of platform for building and running applications for the Internet of Things (IoT).

Buy -