Gores Group Said to Mull Sale of Immunotherapy Business Therakos

Gores Group Said to Mull Sale of Immunotherapy Business Therakos August 06, 2015, 11:54

U.S. buyout firm Gores Group is weighing a sale of immunotherapy company Therakos amid a boom in health care deals, according to people with knowledge of the matter.

Gores is working with Credit Suisse Group AG on the sale, which may value Therakos at about $1 billion, the people said, asking not to be identified because the process is private. Therakos may attract interest from other buyout firms and health care companies, the people said.

No final decision has been made and Gores may choose not to sell West Chester, Pennsylvania-based Therakos yet, they said. Representatives for Gores and Credit Suisse declined to comment.
Therakos specializes in innovative blood treatments to tackle symptoms of some forms of lymphoma, according to the company’s website.

Pharmaceutical deals are on pace this year to beat 2014’s record, with more than $200 billion in transactions already agreed, according to data compiled by Bloomberg. NantKwest Inc., the biotechnology company headed by billionaire Patrick Soon-Shiong, gained in its trading debut Thursday after raising $207 million in a larger-than-expected initial public offering.

Last month, Cinven Ltd. agreed to acquire a majority stake in German laboratory operator Synlab Group as the buyout firm seeks to expand in Europe following the purchase of Labco SA in France. Magnum, a buyout firm focusing on Spain and Portugal, is considering the sale of Portuguese generic drugmaker Generis Farmaceutica SA, people with knowledge of the matter have said.

http://www.bloomberg.com/news/articles/2015-07-28/gores-group-said-to-mull-sale-of-immunotherapy-business-therakos

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