MYR Acquisition, Valuation, Funding & Investors

MYR was acquired by Gilead Sciences for $1.2B in December 2020, a 0.6x multiple on $2.2B of revenue.

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MYR acquisition price

$1.2B

Acquired by Gilead Sciences · Dec 2020

MYR revenue at acquisition

$2.2B

Last twelve months · Dec 2020

MYR revenue multiple at acquisition

0.6x

EV/Revenue · Dec 2020

Cumulative funding MYR raised

$4M

across 1 funding round

MYR Overview

About MYR

MYR Pharmaceuticals is a Bad Homburg, Germany-headquartered biotech firm focused on therapies for chronic hepatitis B/D infections. Its lead candidate bulevirtide advances in phase III for HDV, with orphan designations from EMA/FDA, PRIME status, and UK MHRA PIM designation. The NTCP inhibitor shows promise for dyslipidemia, NASH, and PBC, supported by phase I trials. Founded in 2011 from University of Heidelberg/INSERM technology, the company secured over EUR 30 million in venture funding including High-Tech Gründerfonds.


Founded

2011

HQ

GermanyBad Homburg

Status

Acquired

Customer focus

B2B

Revenue model

Product sales

Revenue

$2.2B (Dec 2020)

Valuation

$1.2B (acquired Dec 2020)

MYR Acquisition

MYR was acquired by Gilead Sciences for $1.2B on 10 December 2020.

The acquisition price implies a 0.6x revenue multiple on $2.2B of revenue.

Before the acquisition MYR had raised $4M across 1 funding round.

MYR GmbH was a German biotechnology company focused on the development and commercialization of therapeutics for chronic hepatitis delta virus (HDV). The company's primary asset was Hepcludex (bulevirtide), a first-in-class entry inhibitor for HDV treatment that received conditional approval from the European Medicines Agency in July 2020. Hepatitis D is the most severe form of viral hepatitis and affects millions of patients globally, representing an area of significant unmet medical need. Gilead Sciences, a global leader in virology and liver disease treatments with nearly 20 years of experience in viral hepatitis therapeutics, agreed to acquire MYR to add Hepcludex as its first marketed product for HDV treatment and expand its hepatitis portfolio following declining revenue from hepatitis C drugs. Under the definitive agreement announced in December 2020, Gilead agreed to pay approximately €1.15 billion in upfront cash consideration plus potential milestone payments of up to €300 million contingent on U.S. FDA approval. The transaction was completed in 2021, with MYR becoming a wholly owned subsidiary of Gilead. The acquisition was expected to be neutral to non-GAAP earnings per share in the first two years post-close and moderately accretive thereafter.

MYR acquisition details
AcquirerDateTypePriceEV/Revenue
10 Dec 2020Strategic M&A$1.2B0.6x

MYR Funding History

MYR has raised a total of $4M across 1 funding round.

MYR funding rounds

MYR funding rounds
DateStageInvestorsRaised
Sep 2019SeedJOINT JOURNEY (lead)$4M

Who has invested in MYR?

1 investor has backed MYR across its funding rounds, including JOINT JOURNEY.

Lead investors include JOINT JOURNEY.


MYR Investors

Investors in MYR by funding rounds participated
InvestorHQRoundsRoleFirst check

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MYR Competitors

MYR competitors include listed companies like Inhibrx Biosciences, SpyGlass Pharma, MannKind and Omeros, and private ones like Belief BioMed and Lila Biologics.

Public and private companies comparable to MYR
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
Inhibrx BiosciencesUnited StatesUnited StatesPublicly listed$1M($133M)$1.2B6845.6x
SpyGlass PharmaUnited StatesUnited StatesPublicly listed-($42M)$1.2B-
Belief BioMedChinaShanghaiPrivate--$1.3B-
Lila BiologicsUnited StatesSeattle, WAPrivate--$1.2B-
MannKindUnited StatesUnited StatesPublicly listed$349M$43M$1.3B3.5x
OmerosUnited StatesUnited StatesPublicly listed-($7M)$1.2B11.3x

MYR Public Comps

MYR is no longer listed, but its public comps include Inhibrx Biosciences, SpyGlass Pharma, SOTHEMA, MannKind, Omeros, Vor Biopharma, Uniphar, Pharma Mar, Everest Medicines and Duality Biotherapeutics.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Inhibrx Biosciences$1M($133M)994.0x6845.6x(9.7x)-
SpyGlass Pharma-($42M)--(23.7x)(14.2x)
SOTHEMA$330M$73M4.0x3.5x18.2x-
MannKind$349M$43M4.3x3.5x34.3x-
Omeros-($7M)-11.3x(179.8x)-
Vor Biopharma-($699M)--(1.1x)(3.3x)
Uniphar$3.4B$133M0.5x0.5x13.2x10.8x
Pharma Mar$248M$75M4.6x4.8x15.3x20.4x

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Common questions about MYR

When was MYR founded?MYR was founded in 2011.
Where is MYR headquartered?MYR is headquartered in Bad Homburg, Germany.
Is MYR publicly listed?No, MYR was acquired by Gilead Sciences in December 2020.
Who acquired MYR?MYR was acquired by Gilead Sciences in December 2020.
How much was MYR acquired for?MYR was acquired for $1.2B in December 2020, a 0.6x revenue multiple.
How much funding has MYR raised?MYR has raised $4M across 1 funding round.
What was MYR's last funding round?MYR's last funding round was a $4M seed round in September 2019, led by JOINT JOURNEY.
Who are MYR's investors?MYR's investors include JOINT JOURNEY.
Which companies are comparable to MYR?Companies comparable to MYR include Inhibrx Biosciences, SpyGlass Pharma, Belief BioMed, Lila Biologics, MannKind and Omeros.

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