Shionogi & Co’s New Jersey-based subsidiary, Shionogi Inc., has entered into a definitive agreement to acquire Qpex Biopharma, a privately held clinical stage pharmaceutical company with expertise in antimicrobial research and development.
Shionogi Inc. would make an upfront payment of $100 million to Qpex equityholders upon completion of the acquisition, and Qpex equityholders may be eligible to receive additional payments based on the achievement of certain regulatory and development milestones, for a total potential additional consideration of $40 million.
Following the completion of the acquisition, which is subject to customary closing conditions, Qpex will become a wholly owned subsidiary of Shionogi Inc.
“We are pleased to welcome Qpex into the Shionogi family. Bacterial resistance to antibiotics remains one of the biggest threats to global health, and Qpex’s pipeline, including xeruborbactam, and its capabilities will accelerate our efforts to develop new antibiotic treatments to address antimicrobial resistance,” said Isao Teshirogi, Ph.D., CEO of Shionogi.
”Following the close of the acquisition, Qpex will become part of Shionogi, and we will work together to comprehensively address the needs of patients and healthcare professionals and to protect society from current and emerging life-threatening bacterial infections.”
“Qpex is thrilled to become part of Shionogi, a world-class organization with an established legacy and commitment to innovation in the development of products for the treatment of infectious diseases,” said Michael N. Dudley, PharmD, president and CEO of Qpex. “Joining Shionogi along with our collaboration with BARDA will help drive the availability of new products for treating drug-resistant infections worldwide.”