logo
Intelligence
Tracking
Tools
logo
Intelligence
Tracking
Tools

Polaris Group Announced The Acquisition Of Genovior Biotech, Initiating Dual-Engine Growth

Dec 22, 2023•almost 2 years ago

Acquiring Company

Polaris Group

Acquired Company

Genovior Biotech Corporation

San DiegoTaipeiPharmaceutical ManufacturingPharmaceutical Manufacturing

Description

Polaris Group (The Company, TWSE:6550) announced that its board approved to increase the acquisition of Genovior Biotech's shares to 100%. Additionally, Dr. Steve Hsu, Chairman of Genovior Biotech Corporation, has been appointed as the CEO of Polaris Group. This significant decision not only allows Polaris Group to expand the product pipeline beyond its novel cancer metabolism therapy but also marks its entry into the highly promising realm of peptide drugs, such as the widely recognized Semaglutide-related products. These two highly prospective product lines will serve as the dual engines propelling Polaris Group's future growth.

Company Information

Company

Polaris Group

Location

San Diego, California, United States

About

Polaris Group, a privately held multinational biopharmaceutical drug company, specializes in the research and development of protein drugs to treat cancer and other debilitating diseases in humans. Polaris' lead project is ADI-PEG 20, a biotherapeutic agent that is in advanced clinical development for the treatment of hepatocellular carcinoma and metastatic melanoma. Polaris is collaborating with EnzymeRx in the development of Uricase-PEG 20 for the treatment of gout, tumor lysis syndrome, and other diseases related to hyperuricemia. Polaris is also researching and developing other biotherapeutic agents and has a small molecule drug program. The latter utilizes a rational structure-based approach for the design of novel compounds that inhibit the biological function of cancer-related protein targets.

M&A Insights

Based on deal data
Integration timeline
70% of M&A integrations take 12-24 months to complete
Tech stack consolidation
83% of merged companies consolidate technology vendors within first year
Post-acquisition investment
Companies increase IT spending by 23% on average after acquisitions
Success factor
M&A deals with strong technology integration plans are 2.5x more likely to succeed