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AnHeart Acquired in All-Stock Deal by Nuvation Bio at $253 Million Valuation

publication date: Mar 25, 2024

AnHeart Therapeutics, a New York-Hangzhou biopharma, will become part of Nuvation Bio (NYSE: NUVB) of New York in an all-stock deal. Shareholders of AnHeart will own 33% of Nuvation after the close, implying a value of $253 million at Nuvation’s current valuation. Nuvation has $600 million in cash, which may be part of AnHeart’s interest in the company. AnHeart’s lead candidate is a selective next-gen ROS1/NTRK inhibitor, taletrectinib, that is being tested in NSCLC patients. AnHeart has sold China rights for the drug to Innovent and Japan and Korea rights to other companies. More details....

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