Kyowa Kirin acquires Orchard Therapeutics

Kyowa Kirin Co., Ltd., a Japan-based global specialty pharmaceutical company creating innovative medical solutions utilizing the latest biotechnology, and Orchard Therapeutics plc, a global gene therapy leader, announced the companies have entered into a definitive agreement under which Kyowa Kirin will acquire Orchard Therapeutics for $16.00 per American Depositary Share (ADS) in cash (approximately $387.4 million, or ¥57.3 billion), under which Orchard shareholders will hold an additional contingent value right (CVR) of $1.00 per ADS. An additional $1.00 CVR will be paid for a total of $17.00 per ADS, or approximately $477.6 million (¥70.7 billion) if the conditions are met.