MHA advises Ariceum Therapeutics with Theragnostics acquisition

MHA has successfully advised Ariceum Therapeutics, a Berlin-based private biotech company, on the acquisition of Theragnostics Ltd., a UK-based private biopharmaceutical company engaged in the development of radio-labelled PARP inhibitors for the diagnosis and treatment of tumours.

The acquisition of Theragnostics Ltd delivers an expanded portfolio of therapeutic and diagnostic assets in late preclinical and early clinical development for Ariceum. 

Ariceum will acquire 100% of the shares of Theragnostics in exchange for an upfront payment of $2.5m (£1.9m) in cash and milestone payments totalling up to $41.5m (£33.1m). 

Theragnostics’ assets obtained by Ariceum include ATD 001 (formerly THG 008), a novel fluorine-18 radiolabelled PARP inhibitor for the imaging cancer, and AT-001 (formerly THG 009), a I-123-labelled PARP inhibitor which is in development for the treatment of aggressively growing cancers and already having UK ILAP approval for primary and recurrent glioblastoma.

Ariceum will also acquire Theragnostics Ga-68 kit technology IP which is licensed by Theragnostics to Novartis for their approved Ga-68 PSMA kit, LOCAMETZ, a diagnostic medicine used in adults with prostate cancer.

Manfred Rüdiger, chief executive officer of Ariceum Therapeutics, said: “We are delighted to welcome Theragnostics’ expert radiopharmaceutical team to Ariceum and to integrate its innovative products into our proprietary pipeline through this acquisition. 

“In full alignment with our strategy, Ariceum continues to create value for its shareholders by building and advancing a well-balanced portfolio from early discovery to mid-clinical stage projects up to FDA approved NEPHROSCANTM which advances our presence in the US.”

Greg Mullen, former chief executive officer of Theragnostics and newly appointed chief operating officer of Ariceum Therapeutics, said: “The acquisition by Ariceum Therapeutics is an exciting opportunity for Theragnostics and we are delighted to be part of a world-leading and innovative radiopharmaceutical company, ensuring the rapid clinical development of PARP inhibitor Auger therapy.”

The MHA corporate finance team led by corporate finance partner and transaction services leader, Rob Dando, alongside corporate tax partner, Chris Denning, delivered specialist financial and tax due diligence services to Ariceum to facilitate the acquisition deal. 

Dando said: “The acquisition of Theragnostics Ltd cements Ariceum’s commitment to growth and development of their UK and US operations and delivery of ground-breaking medtech. We are grateful for the opportunity to work with Ariceum’s dedicated team and to demonstrate MHA Corporate Finance’s transaction expertise in the Life Sciences Sector.”