Biotech Values

[DewDiligence]

SAGE responds_to BIIB’s buyout offer by suing:

https://news.bloomberglaw.com/esg/biogen-sued-by-neuroscience-company-sage-days-after-buyout-offer

Sage Therapeutics Inc. sued Biogen Inc. on Friday, a week after the biotech giant made an unsolicited offer to acquire the smaller neuroscience company for about $469 million.

The lawsuit remains under seal with Delaware’s Chancery Court, the leading US forum for merger fights and corporate cases. But a related public filing indicates Sage is seeking an injunction to enforce a standstill agreement against Biogen, its largest shareholder and partner on the postpartum depression drug Zurzuvae. Biogen currently holds a roughly 10% stake in Sage.