Heat Biologics Inc (NASDAQ:HTBX) will acquire Elusys Therapeutics, a commercial-stage biodefense company and the manufacturer of Anthim (obiltoxaximab) Injection.
- The acquisition is expected to close during Q1 of 2022 and is subject to customary closing conditions. Specific deal terms were not disclosed.
- Anthim is approved for use in the U.S., Canada, Europe, and the U.K. under the brand name Obiltoxaximab SFL.
- The strategic acquisition of Elusys is intended to enhance Heat's immunotherapy portfolio and further position Heat to take a lead role in the biodefense space.
- Elusys has been awarded over $350 million in research and development contracts and procurement orders from the Biomedical Advanced Research and Development Authority (BARDA).
- No stock or warrants will be issued in connection with the acquisition, and Elusys has no outstanding debt.
- As of September 30, Heat Biologics held approximately $108.9 million in cash, cash equivalents, and short investments.
- Price Action: HTBX shares are trading 0.75% lower at $3.95 during the market session on the last check Tuesday.
