Biotoscana is a biopharma group that operates in the Latin American region. The Brazilian company focuses on areas such as oncology and onco-hematology, infectious diseases, and other speciality therapeutics. Currently, the company has a presence across 10 Latin American countries through its subsidiaries.
Knight Therapeutics CEO Jonathan Ross Goodman said: “This transformational acquisition establishes Knight as a premiere pan-American (ex-US) specialty pharmaceutical company. With scale and a strong regional infrastructure, we will be well positioned as the pan-American (ex-US) in-licensing partner of choice.
“The combination of Knight and GBT creates a compelling platform in large, fast growing markets. GBT is a natural strategic fit, with a similar business model to Knight and strong relationships with global partners.”
To achieve the takeover of the Brazilian firm, Knight Therapeutics has struck a deal to acquire a controlling stake of 51.2% from Advent International, Essex Woodlands and other shareholders for BRL10.96 ($2.65) per share or BRL596m ($144m).
Upon closing of the deal, the Canadian speciality pharma company will acquire the remaining 48.79% stake in Biotoscana by launching a mandatory tender offer on similar terms of BRL10.96 ($2.65) per share.
Knight Therapeutics president Samira Sakhia said: “After an extensive search for opportunities and partners in Latin America, we are very excited to welcome GBT’s team of talented people, who are fundamentally aligned with Knight’s culture and core values.
“GBT is a stand-alone successful business that we intend to add significant value to through our business development and operational expertise. We look forward to working with our new extended team to build a pan-American commercial solution for biotech and pharmaceutical companies with late-stage innovative therapeutics.”
Based in Montreal, Knight Therapeutics is engaged in acquiring or in-licensing innovative pharma products for the Canadian and certain international markets.
In July 2019, the company secured approval from Health Canada for Nerlynx (neratinib) for the extended adjuvant treatment of women having early-stage hormone receptor positive, HER2-overexpressed/amplified breast cancer within one year following trastuzumab-based adjuvant therapy. Under a license agreement with Puma Biotechnology, the company holds the exclusive right to commercialize Nerlynx in Canada.