Forbion's Dezima sold to Amgen

Awaiting approval by the US Federal Trade Commission, the deal is expected to complete in Q4 2015.

It will see Amgen pick up all Dezima Pharma shares for a $1.55bn purchase price, $300m of which will be paid upfront. Dezima's buyer will follow this with a further $1.25bn and royalties in the low-single-digit region provided the company reaches a number of development and sales milestones.

A share of all proceeds will be earmarked for Mitsubishi Tanabe Pharma, which will keep the licence rights of Dezima's lead therapy TA-8995 it acquired in 2013. The Japanese group will also retain control over the drug's development and sales in the Asian country.

Previous funding
Forbion Capital Partners, which spun out of ABN Amro in 2006, supported the creation of Dezima Pharma in 2012 via seed financing provided alongside BioGeneration and New Science.

One year later, the trio came together during a €9.8m series-A led by Forbion and BioGeneration, according to unquote" data. At the time, it was stated the funds would be spent in the development of TA-8995 and other earlier-stage dyslipidemia-targeting therapies. 

Company
Naarden-headquartered Dezima was founded in 2012 with seed capital from Forbion, BioGeneration and New Science, plus an additional €5m loan from the Dutch government.

At the head of its creation was John Kastelein, medicine professor at Amsterdam's University and a key figure in the later clinical trials of TA-8995, Dezima's flagship drug. The therapy uses cholesteryl ester transfer protein (CETP) inhibitors to combat dyslipidemia, a condition that increases the risk of cardiovascular events.

People
Forbion was represented by Sander Slootweg, managing partner at the firm and chairperson of Dezima. John Kastelein founded Dezima and is the company's current CSO, while Rob de Ree is CEO at the company.

Advisers
Acquirer – Covington & Burling (Legal); De Brauw Blackstone Westbroek (Legal).
Company – Moelis & Company (Corporate finance); NautaDutilh (Legal).

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