Add-on Acquisition • Life Science

MGI Pharma Acquires Guilford Pharmaceuticals

On July 20, 2005, MGI Pharma acquired life science company Guilford Pharmaceuticals from Alta Partners and Nexus Life Science Partners

Acquisition Context
  • This is MGI Pharma’s 2nd transaction in the Life Science sector.
  • This is MGI Pharma’s 2nd transaction in the United States.
  • This is MGI Pharma’s 1st transaction in Maryland.

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M&A Deal Summary

Date July 20, 2005
Target Guilford Pharmaceuticals
Sector Life Science
Buyer(s) MGI Pharma
Sellers(s) Alta Partners
Nexus Life Science Partners
Deal Type Add-on Acquisition

Target Company

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
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Buyer Overview 1

Buyer

MGI Pharma

Bloomington, Minnesota, United States

Category Company
Sector Life Science
DESCRIPTION

MGI Pharma, Inc., a biopharmaceutical company, researches, develops, and commercializes pharmaceutical products for oncology and acute care applications.


Deal Context for Buyer #
Overall 2 of 2
Sector: Life Science 2 of 2
Type: Add-on Acquisition 2 of 2
State: Maryland 1 of 1
Country: United States 2 of 2
Year: 2005 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2004-09-03 ZYCOS

Lexington, Massachusetts, United States

ZYCOS Inc. discovers, researches, and develops new medical entities (NMEs) for treating chronic viral diseases and cancer.

Buy -

Seller Profiles 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 Context for Seller #
Overall 23 of 85
Sector: Life Science 14 of 65
Type: Add-on Acquisition 15 of 45
State: Maryland 1 of 3
Country: United States 21 of 75
Year: 2005 4 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2005-05-18 Azelon Pharmaceuticals

West Conshohocken, Pennsylvania, United States

Azelon Pharmaceuticals is developing a novel parathyroid hormone (PTH) analog called Ostabolin-C™ for the treatment of osteoporosis which has completed Phase II trials. The Company has other Ostabolin-C™ programs in clinical development.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2005-08-22 Eyetech Pharmaceuticals

Cedar Knolls, New Jersey, United States

Eyetech Pharmaceuticals was founded to discover and develop new drugs to reduce and prevent serious vision loss caused by eye disease. Eyetech's lead product, EYE001, addresses the two leading causes of blindness in the adult population-age-related macular degeneration (AMD) and diabetic macular edema (DME).

Sell $935M
SELLER

Nexus Life Science Partners

New York, New York, United States

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 Context for Seller #
Overall 4 of 22
Sector: Life Science 4 of 18
Type: Add-on Acquisition 2 of 10
State: Maryland 1 of 1
Country: United States 4 of 19
Year: 2005 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2004-12-21 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.

Sell $1.0B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2005-12-14 Abgenix

Fremont, California, United States

Abgenix is a biopharmaceutical company focused on the discovery, development and manufacturing of fully human therapeutic antibodies. The company's antibody development platform includes a leading technology and state-of-the-art manufacturing capabilities that enable the rapid generation, selection and production of high affinity, fully human antibody product candidates to a variety of disease targets.

Sell $2.2B