LianBio (LIANY): M&A transaction — LianBio terminates mavacamten license for $350M; TP-03 Phase 3 shows mixed results

LianBio

Terminated mavacamten license with BMS/MyoKardia; receives $350M payment and released from $127.5M in milestones.
Phase 3 LIBRA trial met co-primary endpoint of mite eradication (p<0.001) but missed collarette cure (p=0.15).
Plans to discuss TP-03 results with NMPA and expects to file NDA for Demodex blepharitis in China.
Pro forma cash and equivalents rise to $444M (from $104M) after termination payment.

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Key facts

Extracted from this filing and checked against the source text.

M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.9

LianBio completed a disposition involving MyoKardia, Inc. and Bristol-Myers Squibb Company for $350 million (closed 2023-10-24).

Action: disposition
Counterparty: MyoKardia, Inc. and Bristol-Myers Squibb Company
Consideration: $350 million
Closing: 2023-10-24

Exact text from the filing

Pursuant to the Termination Agreement, LianBio will receive a one-time payment of $350 million as consideration for the Transaction.

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

LianBio terminated License Agreement with MyoKardia, Inc. and Bristol-Myers Squibb Company valued at $350 million (effective 2023-10-24).

Action: termination
Agreement: license
Counterparty: MyoKardia, Inc. and Bristol-Myers Squibb Company
Value: $350 million
Effective: 2023-10-24

Exact text from the filing

On October 24, 2023 (the “Termination Effective Date”), LianBio entered into a Termination Agreement, dated October 24, 2023 (the “Termination Agreement”), by and among MyoKardia, Inc. (“MyoKardia”) and Bristol-Myers Squibb Company

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19 m&a transactions filed in the last 30 days. Browse all m&a transactions →

LianBio filing history →

Source: SEC EDGAR

accession 0001831283-23-000117

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