Alfasigma completes acquisition of Intercept

Alfasigma and Intercept Pharmaceuticals announced the completion of the acquisition of Intercept by Alfasigma through its wholly owned subsidiary Interstellar Acquisition Inc. Following the completion of Alfasigma’s successful tender offer to purchase all outstanding shares of common stock of Intercept for USD 19.00 per share, net to the seller thereof in cash, without interest, less any applicable withholding of taxes, Alfasigma acquired all remaining shares of common stock of Intercept through a merger pursuant to Section 251(h) of the General Corporation Law of the State of Delaware. As a result of the transaction, Intercept has become a wholly owned subsidiary of Alfasigma, and the common stock of Intercept has ceased to be traded on the NASDAQ Stock Market. At the effective time of the merger, and subject to any perfected appraisal rights, all of the remaining shares of common stock of Intercept not purchased in the tender offer were converted into the right to receive the same USD 19.00 per share, net to the seller thereof in cash, without interest, less any applicable withholding of taxes. With this transaction, Alfasigma adds Ocaliva to its portfolio, the only second-line treatment approved by the Food and Drug Administration for primary biliary cholangitis, a progressive autoimmune disease affecting the liver. The deal will strengthen Alfasigma’s pipeline, with the addition of a novel fixed-dose combination possibly establishing a new treatment paradigm for PBC.