Grifols SA – ADR (NASDAQ:GRFS) announced plans to acquire Alkahest Inc, for $146 million on a debt-free basis

The Barcelona-based Grifols, which also has offices in San Carlos, Calif., boasts a status as a leading global producer of plasma-derived medicines and a leader in the development of innovative diagnostic solutions, today announced the transaction, to which is says no additional financing will be required.

The closing of the transaction is subject to the approval by the relevant antitrust authorities, and is expected to close in early 2021.

The Silicon Valley-based biotechnology company was founded upon research into the therapeutic use of plasma proteins in combating diseases associated with aging as identified in the Stanford University laboratory of Tony Wyss-Coray, professor of Neurology at Stanford and co-founder and board member of Alkahest.

In addition to the clinical development of specific plasma fractions and protein inhibitors, Alkahest is focused on developing a complete understanding of the human plasma proteome.

This unique proteomic platform of targets will help Grifols and Alkahest to unlock new therapeutics and diagnostics, develop new plasma proteins, new indications for currently licensed plasma proteins, biomarkers for diagnostics, recombinant proteins and antibodies as well as small-molecule drugs.

“We saw the promise of Alkahest’s understanding of aging when we made our first investment and entered into a collaboration agreement with them five years ago,” said Víctor Grífols, co-CEO of Grifols.

“Now we see a wealth of plasma-derived and non-plasma therapeutic candidates identified by Alkahest that can significantly support the unmet needs of many diseases associated with aging.”

Shares picked up 62 cents, or 4%,to $16.02.