Central nervous system-focused biotech Assertio Holdings
this week that it would acquire Spectrum Pharmaceuticals, a Boston-based biopharmaceutical company focused on novel and targeted oncology treatments.
Back in 2018, anonymous sources interviewed by Bloomberg said that
for a buyer, working with a financial advisor to potentially position itself for an acquisition.
Now, in the definitive merger agreement, Assertio Holdings will buy all outstanding shares of the company in an all-stock and contingent value rights transaction. As a part of the transaction, Spectrum will receive approximately $248 million upfront, as well as milestone payments.
Spectrum has one FDA approved drug and one in advanced development. Rolvedon, which was
, is meant to reducethe occurrence of febrile neutropenia in adult patients with non-myeloid malignancies who are undergoing treatment with myelosuppressive anti-cancer drugs that have a high likelihood of causing febrile neutropenia.