MRNS News & Events

Immedica Pharma and Marinus Pharmaceuticals announced that they have entered into an agreement and plan of merger under which Immedica has agreed to acquire Marinus, by means of a tender offer and subsequent merger. The transaction adds global rights to Zealmy, a commercial-stage rare neurology medicine approved by FDA, the European Commission, the UK Medicines and Healthcare products Regulatory Agency and the National Medicines Product Administration in China with potential for further approvals worldwide. Immedica will commence a cash tender offer to acquire all issued and outstanding shares of Marinus for 55c per share, corresponding to an implied enterprise value of approximately $151M. The transaction is expected to close in Q1 2025. Under the terms of the merger agreement, Immedica, through a wholly owned, direct subsidiary, will initiate a tender offer to acquire all the outstanding shares of Marinus common stock for a cash purchase price of 55c per share, representing a premium of 48% based on Marinus' closing share price as of December 27 and a premium of 97%, based on the 30-day volume-weighted average price of 28c per share preceding the announcement of the transaction. The board of directors of Marinus has unanimously approved the transaction and recommended that the stockholders of Marinus tender their shares in the tender offer. Immedica has received an undertaking from each director and named executive officer of Marinus to tender their respective shares in favor of the transaction. The transaction represents the culmination of Marinus' review of strategic alternatives, which it announced on October 24. The closing of the tender offer will be subject to customary conditions, including the tender of shares which represent at least a majority of the total number of Marinus' outstanding shares of common stock. Upon the successful completion of the tender offer, Immedica would acquire any shares of Marinus' common stock not tendered through a second-step merger effected for the same per share consideration. The transaction is expected to close in Q1 2025.

Reports Q3 revenue $8.5M, consensus $9.4M. "This is a pivotal time for Sangamo as we build upon our recent strong momentum with news of a clear regulatory pathway to Accelerated Approval in the U.S. for ST-920 in Fabry disease, accelerating time to potential approval by approximately three years," said Sandy Macrae, CEO. "Alongside Pfizer's Hemophilia A program activities, and against a backdrop of our recent epigenetic regulation and capsid license agreement with Genentech, these developments create a strong foundation for our core neurology pipeline, which continues to advance. We were thrilled to submit our first neurology IND application this quarter for ST-503 for the treatment of intractable pain due to idiopathic small fiber neuropathy and expect to be in the clinic in mid-2025. We are proud of our scientific and strategic execution so far this year and are continuing to work diligently to secure additional funding to further advance our wholly owned neurology programs, capsid delivery technology and next-generation genome engineering capabilities."