Shionogi Inc. entered into a definitive agreement to acquire Qpex Biopharma, Inc. from Brii Biosciences Limited (SEHK:2137) and Others for $140 million on June 25, 2023. The consideration includes an upfront payment of $100 million to Qpex equityholders upon completion of the acquisition, and Qpex equityholders may be eligible to receive additional payments based on the achievement of certain regulatory and development milestones, for a total potential additional consideration of $40 million. Following the completion of the acquisition, which is subject to customary closing conditions, Qpex will become a wholly owned subsidiary of Shionogi Inc. The closing is scheduled in early July 2023. Evercore Inc. (NYSE:EVR) acted as financial advisor to Qpex Biopharma, Inc.

Shionogi Inc. completed the acquisition of Qpex Biopharma, Inc. from Brii Biosciences Limited (SEHK:2137) and Others in July 2023.