1 May 2026

 

THE BIOTECH GROWTH TRUST PLC

("BIOG" or the "Company")

 

ARCHIMED to acquire BIOG portfolio company, Esperion Therapeutics.

 

The Company notes the announcement on Friday, 1 May 2026 that ARCHIMED has entered into an agreement to acquire BIOG portfolio company, Esperion Therapeutics ("Esperion") 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.

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Enquiries:

 

SEC Newgate (George Esmond)

Public Relations

020 3757 6894

 

Frostrow Capital LLP

Company Secretary

020 3709 8734