Shionogi to Acquire Qpex

Cleary Gottlieb is representing Shionogi Inc., a New Jersey-based subsidiary of Shionogi & Co. Ltd. (Shionogi), in its acquisition of Qpex Biopharma Inc. (Qpex).

At closing, Shionogi Inc. will make an upfront payment of $100 million, and Qpex equityholders may be eligible to receive up to an additional $40 million of payments based on the achievement of certain regulatory and development milestones.

The transaction signed on June 25, 2023, and is expected to close in early July 2023, subject to customary closing conditions.

Shionogi is a research-driven pharmaceutical company based in Osaka, Japan. Qpex is a California-based privately held clinical stage pharmaceutical company with expertise in antimicrobial research and development, which has developed the products in its portfolio with funding from the U.S. Department of Health and Human Services, Administration for Strategic Preparedness and Response, Biomedical Advanced Research and Development Authority.

For more information, please see the press release here.