Betting on Pegozafermin and MASH
Based in San Francisco, 89bio is in late-stage trials for pegozafermin, a therapy aimed at Metabolic Dysfunction-Associated Steatohepatitis (MASH). This progressive fatty liver disease, linked to obesity and type 2 diabetes, is stealthily spreading worldwide, affecting an estimated 6.5% of adults, according to the American Liver Foundation.
Both Roche and 89bio’s boards have unanimously endorsed the transaction, and 89bio’s directors are urging shareholders to accept the offer. The deal, still subject to regulatory conditions and a minimum 50.1% tender, is slated to close by year’s end.
Roche’s Expanding Empire
Founded in Basel in 1896, Roche has evolved into a pharmaceutical powerhouse, with full ownership of U.S. biotech leader Genentech and a controlling stake in Japan’s Chugai Pharmaceutical. In November, it scooped up Poseida Therapeutics for up to $1.5 billion to bolster its blood cancer portfolio.
This latest strike underscores Roche’s strategy of fusing legacy drug development with cutting-edge biopharma innovation. Citigroup Inc. advised Roche exclusively, while Moelis & Company LLC and Centerview Partners LLC counseled 89bio.
