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Drug Names(s): SRT2104, GSK2245840
Description: SRT2104 is an oral small molecule SIRT1 activator. SIRT1 is a member of the human sirtuin family of enzymes, which are hypothesized to play a key role in an organism's response to stresses (such as heat or starvation) and to be responsible for the lifespan-extending effects of calorie restriction.
Deal Structure: In April 2008, GlaxoSmithKline and Sirtris announced that they have entered into a definitive agreement pursuant to which GlaxoSmithKline will acquire Sirtris Pharmaceuticals for approximately USD720 million (or approx. GBP362 million) through a cash tender offer of USD22.50 (or approx. GBP11.33) per share. Sirtris will become part of GSK's Drug Discovery organisation, while continuing to operate from laboratories in Cambridge, Massachusetts as an autonomous drug discovery unit.
Under the agreement, a subsidiary of GSK will commence a cash tender offer to purchase all of the outstanding shares of Sirtris, at USD22.50 (or approx. GBP11.33) per share followed by a second step merger in which any untendered Sirtris shares would be acquired at the same price per share. All outstanding stock options will be cancelled with holders receiving the excess of the transactions price over the exercise price.
In June 2008, GlaxoSmithKline announced the successful completion of the tender...See full deal structure in Biomedtracker
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