Ionis to Acquire Outstanding Shares of Akcea for $500M

Ionis Pharmaceuticals, Inc. and its affiliate Akcea Therapeutics, Inc., have entered into a definitive agreement to acquire all outstanding shares of Akcea stock it does not already own, approximately 24%, in a cash transaction valued at approximately $500 million. The transaction has been approved by the Ionis and Akcea Boards.

"This acquisition is another step forward in Ionis' evolution and creates a stronger, more efficient organization to the benefit of all stakeholders," said Brett Monia, Chief Executive Officer of Ionis. "We believe becoming one company – with one vision and one set of strategic priorities, led by one team – will deliver significant strategic value, enhancing the future success of our company, accelerating our next phase of growth and positioning us to most effectively deliver our medicines to patients. Following the completion of the transaction, Ionis will retain more value from Akcea's rich pipeline and commercial products, further strengthening our financial position and supporting continued investments in our future." 

Under the transaction Ionis will realize more financial benefit from Akcea's pipeline and commercial products. Ionis will gain full access to Akcea's cash on hand of approximately $390 million to further invest in the Company's future.

Ionis and Akcea expect to complete the transaction in 4Q20, subject to customary closing conditions.