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W2O handles media for MyoKardia as the clinical biopharmaceutical firm agrees to be acquired by Bristol-Myers-Squibb for $13.1B in cash, which represents a 60 percent premium over the California-based company’s Oct. 2 closing stock price.
BMS CEO Giovanni Caforio said MyKardia’s mavacamten cardiovascular drug was a key reason for the deal.
He called mavacamten, “a promising medicine with the potential to address a significant unmet medical need in patients with cardiovascular disease.”
Mavacamten treats obstructive hypertrophic cardiomyopathy (HCM), a condition where the heart muscle becomes too thick.
There are 160K to 200K people in the US and EU diagnosed with HCM, which has no effective treatment. It’s estimated that only 25 percent of people with HCM receive a diagnosis.
MyoKardia expects to file a new drug application for mavacamten with the Food & Drug Administration during the first quarter of 2021.
W2O’s Julie Nomert handles MyoKardia, while Hannah Deresiewicz of Stern Investor Relations handles Wall Street.
Interpublic posted a 5.1 percent drop in Q3 net revenues to $2.5B as CEO Philippe Krakowsky reports the final financial results of the publicly traded company.
Joele Frank handles Pine Gate Renewables as the Asheville, NC-based solar power development company declares Chapter 11 in the aftermath of Donald Trump’s cuts to wind & solar tax credits.
Stagwell CEO Mark Penn reports Q3 net revenues jumped 6 percent to $614.5M, a record performance for a non-political period. Operating income soared 45.7 percent to $60.9M.
Joele Frank works for Klöckner Pentaplast as the German maker of plastic films declares Chapter 11. A successful reorganization would slash its its corporate debt by $1.5B.
Teneo represents Metsera, the New York City biotech focused on weight-control products, which is subject to a bidding war between heavyweights Novo Nordisk and Pfizer.
