Framingham, Mass. — Chiesi Group said it has completed its acquisition of KalVista Pharmaceuticals, expanding its rare disease business and adding EKTERLY to its portfolio.
KalVista is now part of Chiesi Group and will support the company’s rare diseases unit, which focuses on research, development and commercialization of therapies for rare and ultra-rare conditions.
With the completion of the deal, Chiesi assumed ownership of EKTERLY, or sebetralstat, the first and only oral, on-demand treatment for hereditary angioedema attacks in adults and adolescents ages 12 and older.
EKTERLY is approved in the United States, United Kingdom, European Union, Japan and other regions. Studies are ongoing to evaluate its use for treating hereditary angioedema attacks in children ages 2 to 11, and multiple regulatory applications are under review in key global markets.
Chiesi completed its tender offer for all outstanding shares of KalVista common stock on June 11. The company offered $27 per share in cash and accepted for payment all shares validly tendered and not withdrawn before the offer expired. Those shares represented about 77.8% of KalVista’s outstanding shares.
After the tender offer closed, Chiesi completed the acquisition through a merger of a wholly owned subsidiary with and into KalVista. As part of the merger, remaining KalVista shares were canceled and converted into the right to receive the same $27 per share in cash.
As a result, KalVista became a wholly owned subsidiary of Chiesi, and KalVista’s common stock stopped trading on the Nasdaq Global Market.
Additional details about the tender offer were included in a Form 8-K filed by KalVista with the Securities and Exchange Commission.
Lazard served as exclusive financial adviser to Chiesi, and Ropes & Gray LLP served as legal adviser. Centerview Partners LLC acted as financial adviser to KalVista, while Kirkland & Ellis LLP and Fenwick & West LLP served as legal advisers.
