M&A Deal Summary

Sonnet Bio Acquires Biosub

On October 10, 2019, Sonnet Bio acquired life science company Biosub from Chanticleer Holdings

Acquisition Highlights
  • This is Sonnet Bio’s 1st transaction in the Life Science sector.
  • This is Sonnet Bio’s 1st transaction in the United States.
  • This is Sonnet Bio’s 1st transaction in North Carolina.

M&A Deal Summary

Date 2019-10-10
Target Biosub
Sector Life Science
Buyer(s) Sonnet Bio
Sellers(s) Chanticleer Holdings
Deal Type Divestiture

Target

Biosub

Charlotte, North Carolina, United States
Biosub is a biotechnology company

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Buyer(S) 1

Buyer

Sonnet Bio

Princeton, New Jersey, United States

Category Company
Founded 2011
Sector Life Science
Employees13
DESCRIPTION

Sonnet Bio is a clinical-stage biotechnology company with a proprietary platform for innovating biologic drugs with single- or bi-specific mechanisms of action. Known as FHAB™ (Fully Human Albumin Binding), the technology utilizes a fully human single-chain antibody fragment (scFv) that binds to and “hitch-hikes” on human serum albumin (HSA) for transport to target tissues. Sonnet Bio was founded in 2011 and is based in Princeton, New Jersey.


DEAL STATS #
Overall 1 of 1
Sector: Life Science M&A 1 of 1
Type: Divestiture M&A Deals 1 of 1
State: North Carolina M&A 1 of 1
Country: United States M&A 1 of 1
Year: 2019 M&A 1 of 1

Seller(S) 1

SELLER

Chanticleer Holdings

Charlotte, North Carolina, United States

Category Company
Founded 1999
Sector Restaurants
Employees876
Revenue 30M USD (2019)
DESCRIPTION

Chanticleer Holdings, Inc. is an owner and operator's restaurant in the US. Chanticleer Holdings was founded in 1999 and is based in Charlotte, North Carolina.


DEAL STATS #
Overall 2 of 2
Sector: Life Science M&A 1 of 1
Type: Divestiture M&A Deals 1 of 1
State: North Carolina M&A 1 of 1
Country: United States M&A 2 of 2
Year: 2019 M&A 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-07-01 HOA

Atlanta, Georgia, United States

HOA is an operator of over 430 Hooters restaurants in 44 states and 27 foreign countries. HOA is well-known for its brand of food and fun, featuring a casual beach-theme atmosphere, a menu that features seafood, sandwiches and Hooters nearly, chicken wings, and service provided by the All-American cheerleaders, the Hooters Girls. HOA was founded in 1983 and is based in Atlanta, Georgia.

Sell -