Swedish Orphan Biovitrum AB (publ) has acquired CTI BioPharma Corp. and completed a rights issue
Swedish Orphan Biovitrum AB (publ) (“Sobi”) has acquired CTI BioPharma Corp. (“CTI”) for approximately SEK 17.1 billion.
The acquisition has been financed through debt financing from Bank of America, Danske Bank, Nordea, SEB and Svenska Handelsbanken of which approximately SEK 6 billion has been refinanced through a rights issue.
Sobi is a specialised international biopharmaceutical company transforming the lives of people with rare and debilitating diseases. Providing reliable access to innovative medicines in the areas of haematology, immunology and specialty care, Sobi has approximately 1,800 employees across Europe, North America, the Middle East, Asia and Australia.
CTI is a commercial biopharmaceutical company focused on the development and commercialization of novel targeted therapies for blood-related cancers that offer a unique benefit to patients and their healthcare providers.
The acquisition complements and further strengthens Sobi’s leading haematology franchise by adding VONJO®, a differentiated product in the treatment of myelofibrosis.
Mannheimer Swartling advised Sobi in relation to the debt financing of the acquisition and the rights issue.
