Day One Biopharmaceuticals, Inc. has successfully completed the acquisition of Mersana Therapeutics, Inc. for $25 per share in cash, plus one non-tradable contingent value right (CVR) per share, with potential milestone payments of up to $30.25 per CVR. This strategic move allows Day One to expand into adult oncology while maintaining a focus on rare cancers like adenoid cystic carcinoma (ACC). The acquisition adds Emi-Le, a novel ADC targeting B7-H4, to Day One’s clinical pipeline, strengthening their position to impact patient communities and deliver sustainable business growth. Mersana’s common stock will cease trading on Nasdaq after the completion of the acquisition.

Day One Biopharmaceuticals is dedicated to developing targeted therapies for people of all ages with life-threatening diseases, with a focus on pediatric cancer. The company’s pipeline includes OJEMDA™, DAY301, and Emi-Le, the ADC acquired from Mersana Therapeutics. Day One aims to redefine cancer drug development and provide innovative treatments for patients, starting from Day One. The acquisition of Mersana strengthens Day One’s position in the market and expands their impact on patient communities.

Gordon Dyal & Co., LLC advised Day One on the acquisition, with Fenwick & West LLP providing legal counsel. TD Cowen acted as financial advisor to Mersana, with Wilmer Cutler Pickering Hale and Dorr LLP serving as legal counsel. Day One is focused on developing important targeted cancer treatments, with a mission to improve outcomes for all people living with cancer, regardless of age. The company’s acquisition of Mersana Therapeutics adds Emi-Le, a novel ADC targeting B7-H4, to their pipeline, furthering their commitment to innovative cancer therapies.

Read more at GlobeNewswire: Day One Completes Acquisition of Mersana Therapeutics