Chiesi Group Completes Acquisition of KalVista Pharmaceuticals

Chiesi Group announced the completion of its acquisition of KalVista Pharmaceuticals. KalVista is now part of Chiesi Group and will contribute to the growth of the Rare Diseases business unit, focused on research, development and commercialization of therapies for rare and ultra-rare conditions. With the completion of the transaction, Chiesi assumed ownership of EKTERLY, an oral, on-demand treatment for hereditary angioedema attacks in adults and adolescents aged 12 years and older. EKTERLY is already approved in the United States, United Kingdom, European Union, Japan and other regions, with ongoing studies exploring its use for treating HAE attacks in children aged 2 to 11, and multiple regulatory applications under review in key global markets. On June 11, Chiesi completed its tender offer for all outstanding shares of KalVista common stock for $27.00 per share in cash and accepted for payment all shares validly tendered and not validly withdrawn as of the expiration time of the tender offer, which shares represented approximately 77.8% of KalVista's outstanding shares. Following completion of the offer, Chiesi completed its acquisition of KalVista through a merger of a wholly owned subsidiary of Chiesi with and into KalVista, in connection with which the outstanding shares of KalVista common stock were cancelled and converted into the right to receive the same $27.00 per share in cash. As a result of the merger, KalVista became a wholly owned subsidiary of Chiesi and KalVista's common stock ceased trading on the Nasdaq Global Market.