Biotech Growth Trust plc (LON:BIOG) has noted the announcement on Friday, 1 May 2026 that ARCHIMED has entered into an agreement to acquire BIOG portfolio company, Esperion Therapeutics for approximately $1 billion, or $3.16 per share, in cash, representing a 58% premium to Esperion’s closing price on Thursday, 30 April 2026. The offer also includes an additional $100 million in contingent value right payments which are based on Esperion products achieving certain sales milestones; if met, the aggregate purchase price would total $1.1 billion.
Esperion is a US-based commercial biopharmaceutical company focused on drugs targeting cardiovascular disease. Its lead drugs are oral therapies to lower cholesterol.
The Company’s holding in Esperion represented 2.5% of the Company’s net asset value (NAV) at the time of the announcement. The transaction will be reflected in the Company’s NAV as at close of business on 1 May 2026, which will be announced on Tuesday, 5 May 2026.
This follows on from recent acquisitions of portfolio companies Avidity Biosciences, Cidara Therapeutics, Amicus Therapeutics, Apellis Pharmaceuticals and KalVista Pharmaceuticals.
