Revolution Medicines, Inc. To Acquire Eqrx, Inc. In All-Stock Transaction To Gain More Than $1 Billion In Additional Capital
Acquiring Company
Revolution Medicines
Acquired Company
OptimizeRx
Description
Revolution Medicines, Inc. (“Revolution Medicines” or the “Company”) (Nasdaq: RVMD), a clinical-stage oncology company developing targeted therapies for RAS-addicted cancers, and EQRx, Inc. (“EQRx”) (Nasdaq: EQRX) today announced a definitive agreement through which Revolution Medicines plans to acquire EQRx in an all-stock transaction intended to add more than $1 billion in net cash to Revolution Medicines’ balance sheet. The total number of shares of Revolution Medicines common stock to be issued to EQRx security holders will be determined in close proximity to the closing of the stockholder votes on the transaction based on the formula described below (see Transaction Details section). The deal, which was overseen by independent committees of Revolution Medicines’ and EQRx’s respective boards of directors, has been approved by the directors of each company. The transaction, which is subject to customary closing conditions, will enhance Revolution Medicines’ efforts to fulfill its vision to discover, develop and deliver pioneering RAS(ON) Inhibitor drugs on behalf of patients with RAS-addicted cancers.
Quick answer
Revolution Medicines is acquiring OptimizeRx for $1 billion, announced August 1, 2023. Revolution Medicines is based in Redwood City, California, United States.
- How much did Revolution Medicines pay for OptimizeRx?
- The reported deal value is $1 billion.
- What does Revolution Medicines do?
- Revolution Medicines, Inc. Revolution Medicines is a clinical-stage oncology company developing novel targeted therapies for RAS-addicted cancers.
- Where are Revolution Medicines and OptimizeRx based?
- Revolution Medicines is based in Redwood City, California, United States. OptimizeRx is based in Waltham, Massachusetts, United States.
Source: Fundz verified event record.
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Who to call at Revolution Medicines, and when
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Frequently asked
Who acquired OptimizeRx?
OptimizeRx was acquired by Revolution Medicines, based in Redwood City. The deal was reported on August 1, 2023. Revolution Medicines, Inc. Revolution Medicines is a clinical-stage oncology company developing novel targeted therapies for RAS-addicted cancers. Revolution Medicines is publicly traded (RVMD) and operates in Biotechnology.
When did Revolution Medicines acquire OptimizeRx?
Revolution Medicines's acquisition of OptimizeRx was reported on August 1, 2023. Revolution Medicines, Inc. (“Revolution Medicines” or the “Company”) (Nasdaq: RVMD), a clinical-stage oncology company developing targeted therapies for RAS-addicted cancers, and EQRx, Inc. Fundz records the date the transaction was first publicly reported, sourced from filings and company announcements.
What does OptimizeRx do?
It is publicly traded (OPRX), operating in Healthcare, and is based in Waltham.
This company was part of an acquisition. Fundz tracks who bought whom, and who to call on both sides.
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