Assignments January 20, 2023

Cirio advises Ipsen on Acquisition of Liver Disease Treatment Innovator Albireo

Cirio has advised Ipsen on its acquisition of Albireo Pharma Inc.

Ipsen and Albireo have, on 9 January 2023, entered into a definitive agreement and plan of merger, under which Ipsen will acquire Albireo.

The transaction focused on Bylay® (odevixibat), the first-approved treatment in progressive familial intrahepatic cholestasis in U.S. and E.U., with potential in other rare diseases. The acquisition aligned with Ipsen’s long-term strategy for expanding the scope of its Rare Disease portfolio and pipeline.

Ipsen will initiate a tender offer to acquire all outstanding shares of Albireo for USD 42.00 per share in cash at the closing of the transaction, for an initial estimated aggregate consideration of USD 952 million plus contingent value right (CVR) of USD 10.00 per share related to the U.S. FDA approval of Bylvay® in biliary atresia.

Cirio’s team consisted of partners Anders Moberg, Hanna Tilus and senior associate Jessica Grönberg.

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