• Novo Nordisk A/S (NYSE: NVO) has agreed to acquire Forma Therapeutics Holdings Inc (NASDAQ: FMTX) for $20 per share in cash, representing a total equity value of $1.1 billion.

• The deal value offers a premium of 92% to Forma Therapeutics' volume-weighted average price per share over the past 30 days.

• Forma Therapeutics is a clinical-stage biopharmaceutical company focused on treating sickle cell disease (SCD) and rare blood disorders.

• The acquisition of Forma Therapeutics, including its lead development candidate, etavopivat, is aligned with Novo Nordisk's strategy to complement and accelerate its scientific presence and pipeline in hemoglobinopathies.

• Last month, Pfizer Inc (NYSE: PFE) acquired Global Blood Therapeutics Inc (NASDAQ: GBT), a sickle cell player, for $68.50 per share in cash, for a total enterprise value of approximately $5.4 billion.

• Forma Therapeutics' Etavopivat is an investigational oral, once-daily, selective pyruvate kinase-R (PKR) activator developed for SCD.

• Etavopivat is currently being evaluated in a global phase 2/3 clinical trial (Hibiscus) in patients with SCD and a phase 2 trial (Gladiolus) in patients with transfusion-dependent SCD and thalassemia.

• The transaction is expected to close in the fourth quarter of 2022.

• Price Action: FMTX shares are up 47.8% at $19.80 on the last check Thursday.

See more from Benzinga

• Novo Nordisk's Subcutaneous Semaglutide Shows Positive Action In Type 2 Diabetes

Don't miss real-time alerts on your stocks - join Benzinga Pro for free! Try the tool that will help you invest smarter, faster, and better.

© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.