Pharmacosmos and G1 Therapeutics Announce Tender Offer Closing

Pharmacosmos A/S Acquires G1 Therapeutics for $405 Million

Pharmacosmos A/S, a leading developer of treatments for iron deficiency and iron deficiency anemia, has successfully acquired all outstanding shares of G1 Therapeutics, Inc. for $7.15 per share in cash. This acquisition values the total equity of G1 Therapeutics at approximately $405 million. G1 Therapeutics, a commercial-stage oncology company, is renowned for its innovative cancer therapies, including COSELA® (trilaciclib), which protects bone marrow from the damaging effects of chemotherapy.

Tobias S Christensen, CEO and President of Pharmacosmos A/S, expressed excitement about the acquisition, emphasizing how it aligns with Pharmacosmos' growth strategy. He highlighted the potential for COSELA to make a significant impact on patients with small cell lung cancer and outlined plans to expand the product's reach within the U.S. and seek international approval, including in the UK and EU.

The tender offer for G1 Therapeutics shares began on August 20, 2024, and concluded on September 17, 2024. By the expiration date, Pharmacosmos had successfully acquired 74.64% of G1 Therapeutics' outstanding shares. Following this, Pharmacosmos' subsidiary, Genesis Merger Sub, Inc., merged with G1 Therapeutics, making it a wholly owned subsidiary. Consequently, G1 Therapeutics’ shares were delisted from NASDAQ.

Jack Bailey, CEO of G1 Therapeutics, reflected on the company's journey since its inception in 2008. He praised the approval and launch of COSELA, which offers proactive multilineage myeloprotection for patients undergoing chemotherapy for extensive-stage small cell lung cancer. Bailey sees the acquisition as a pivotal moment for both companies and the patients they serve, focusing on expanding COSELA's reach to benefit more cancer patients.

Advisory roles in the acquisition were filled by MTS Health Partners, L.P., Arnold & Porter Kaye Scholer LLP for Pharmacosmos, and Centerview Partners LLC, Ropes & Gray LLP, and Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, P.C. for G1 Therapeutics.

COSELA (trilaciclib) is designed to reduce the incidence of chemotherapy-induced myelosuppression in adults undergoing certain chemotherapy regimens for extensive-stage small cell lung cancer. It is contraindicated in patients with a history of severe hypersensitivity reactions to trilaciclib and carries warnings for injection-site reactions, acute drug hypersensitivity reactions, interstitial lung disease, and embryo-fetal toxicity. Common adverse reactions include fatigue, electrolyte imbalances, and pneumonia.

Pharmacosmos A/S, headquartered in Holbaek, Denmark, specializes in carbohydrate chemistry and develops innovative treatments for iron deficiency and anemia. With a presence in multiple countries, including the USA, and a commitment to research and development, Pharmacosmos leverages its expertise in carbohydrate production and iron-carbohydrate complex synthesis.

G1 Therapeutics, based in Research Triangle Park, N.C., focuses on developing next-generation cancer therapies. Their flagship product, COSELA, is a pioneering approach to protecting bone marrow during chemotherapy, improving the quality of life for cancer patients.