Acquisition
Ewing-based Antares Pharma has reached an agreement to be acquired by San Diego-based Halozyme Therapeutics, Inc. Halozyme will acquire Antares for $5.60 per share in cash, which values Antares at approximately $960 million. The deal was unanimously approved by the boards of both companies.
Antares Pharma, headquartered in the Princeton South Corporate Center, is a specialty pharmaceutical company focused primarily on the development and commercialization of pharmaceutical products and technologies that address patient needs in targeted therapeutic areas. The company develops, manufactures, and commercializes novel therapeutic products using its advanced drug delivery systems that are designed to provide commercial or functional advantages such as improved safety and efficacy, convenience, improved tolerability, and enhanced patient comfort and adherence.
Halozyme, a biopharmaceutical company, specializes in technology that improves patient experiences and outcomes for emerging and established therapies. Its ENHANZE technology, which can reduce hours-long treatments to a matter of minutes, uses a proprietary enzyme, rHuPH20, to facilitate the delivery of injected drugs and fluids.
“The addition of Antares, particularly with its best-in-class auto injector platform and specialty commercial business, augments Halozyme’s strategy, further strengthens our position as a leading drug delivery company and extends our strategy to include specialty products,” said Helen Torley, president and chief executive officer of Halozyme, in a statement. “The acquisition of Antares fits well with our previously discussed strategic priorities and provides substantial financial growth potential and disruptive solutions to significantly improve patient experiences and outcomes for emerging and established therapies.”
“This transaction showcases the value of Antares’ highly complementary business, provides our shareholders with attractive and certain value, and brings together industry-leading expertise and drug delivery platforms to accelerate growth and create new opportunities,” Antares president and CEO Robert F. Apple said.
Antares Pharma, 100 Princeton South Corporate Center, Suite 300, Ewing 08628. 609-359-3020. Robert F. Apple, president and CEO. www.antarespharma.com.
Deaths
Robert J. Hiel, 88, on April 14. After retiring from Reynolds Metal Company, he was a member of the U.S. 1 delivery team for nearly 20 years. Services will be held on Thursday, April 21, at 11 a.m. in the Greenwood Cemetery Mausoleum, 1800 Hamilton Avenue, Trenton, with visitation for family and friends beginning at 10 a.m.
Gordon Oscar Danser, 77, on March 25. He founded accounting firm Danser, Balaam and Frank in Princeton in 1986.
Christopher Cermele, 71, on April 15. He worked for the state Department of Corrections and the Parole Board as an IT director.
Jean Rose Hvisdock, 93, on April 13. She worked for 20 years at the Eet Gud Bakery and later worked in high school cafeterias for the Hamilton public schools.
Edward S. Enourato Jr., 80, on April 10. The Yardville resident learned the construction business from his father and later formed Edward Enourato and Sons Construction Co. with his brother.
Carlton G. Cubberley, 93, on March 27. He served as an Army corporal during the Korean War, then was employed at Kaycor in Yardville, CV Hill in Trenton, and retired after 25 years at McGraw Hill Book Co. in Hightstown as a stock control manager.
May D. Martin, 91, on April 10. She retired from Princeton University, where she was an assistant controller for many years.
Patricia O’Neill, 71, on April 12. She was a consultant to nonprofits and was involved with area groups including Princeton Community Works and Women in Development.
