Roche completes acquisition of Spark
Spark Therapeutics has accepted a tender offer for all outstanding shares of common stock at a price of $114.50 per share, allowing Roche to complete its acquisition of the company, according to a press release.
The deal, which was announced in February 2019, cleared all regulatory hurdles Monday when it was approved by the U.K. Competition and Markets Authority and the U.S. Federal Trade Commission.
“We are excited about this important milestone because we believe that together, Roche and Spark will be able to significantly improve the lives of patients through innovative gene therapies,” Roche CEO Severin Schwan said in a press release. “This acquisition supports our long-lasting commitment to bringing transformational therapies and innovative approaches to people around the world with serious diseases.”
All shares of Spark not owned by the company, Roche or Roche’s wholly owned subsidiaries will be converted into the right to receive the same cash consideration per share under the terms of the acquisition, the release said.
Spark is now a wholly owned subsidiary of Roche, and its shares will no longer be traded on the Nasdaq stock market. Spark will continue to operate in Philadelphia.
“Today ushers in a new and promising era in the development of genetic medicines for patients and families living with inherited diseases and beyond,” Jeffrey D. Marrazzo, co-founder and CEO of Spark Therapeutics, said in a release. “Spark and Roche share an ethos of imagining the unimaginable. Together, we have the potential to change the future of medicine and deliver the medicines of tomorrow today. We couldn’t be more thrilled about what’s next.”