PR Newswire
LONDON, United Kingdom, April 01
1 April 2026
THE BIOTECH GROWTH TRUST PLC
(«BIOG» or the «Company»)
Biogen, Inc. to acquire BIOG portfolio company, Apellis Pharmaceuticals, Inc.
The Company notes the announcement on Tuesday, 31 March 2026 that Biogen Inc.
(«Biogen») has entered into an agreement to acquire BIOG portfolio company,
Apellis Pharmaceuticals, Inc. («Apellis») for approximately $5.6 billion, or $41
per share, in cash, representing a 140% premium to Apellis’ closing price on
Monday, 30 March 2026. The offer also includes an additional $4 per share of
contingent value right payments which are based on Apellis products achieving
certain sales milestones; if met, the aggregate purchase price would represent a
163% premium to Apellis’ closing price on Monday, 30 March 2026.
Apellis is a global biopharmaceutical company focused on drugs targeting the
complement pathway for diseases of the eye, blood and kidney. Apellis launched
the first new class of complement medicines in 15 years and now has two C3
-targeted drugs, EMPAVELI and SYFOVRE, approved to treat four serious diseases.
The drugs include the first-ever therapy for geographic atrophy, a leading cause
of blindness, and a drug to treat complement 3 glomerulopathy (C3G), a severe
rare kidney disease. Net product revenues for EMPAVELI and SYFOVRE totalled $689
million in 2025 and Apellis expects revenue for these products to grow in the
mid-to-high teens at least through 2028.
The Company’s holding in Apellis represented 1.74% of the Company’s net asset
value at the time of the announcement. The transaction will be reflected in the
Company’s NAV as at close of business on 31 March 2026, which will be announced
later today.
To sign up for BIOG updates by email, please click
here (https://www.biotechgt.com/media/email-alerts).
Enquiries:
SEC Newgate (George Esmond)
Public Relations
020 3757 6894
Frostrow Capital LLP
Company Secretary
020 3709 8734
This information was brought to you by Cision http://news.cision.com
